OpenAI has reduced the planned amount of its funding round from $30 billion to about $20 billion. The deal values OpenAI at $1.25 trillion, down from an initial target of $1.4 trillion. Some investors lowered their commitments ahead of the October 30 deadline, making an initial close of less than $20 billion likely. CNBC’s Kate Rooney said weakening demand in private markets was increasing pressure on AI companies to seek public financing. The price of Anthropic’s IPO could indicate whether public investors are still willing to support AI valuations worth several trillion dollars.