OpenAI cuts fundraising goal as Meta faces credit warning
Wall Street pushback signals a potential slowdown in Silicon Valley capital as OpenAI trims fundraising targets and Meta receives a negative credit outlook.
2 sources
The seemingly endless gusher of capital showered on Silicon Valley during the artificial intelligence boom may soon be coming to an end as Wall Street begins pushing back on spending. Major industry players are facing headwinds, highlighted by OpenAI lowering its fundraising goal.[1]
At the same time, Meta is facing financial pressure over its cash flow and expenditure. S&P Global lowered its credit outlook for Meta late Friday, downgrading it to negative from stable.[1][2]
