The 'T' in that number is breathtaking. Amusing flashback: remember about a year ago various tech publications claimed OpenAI was destined for bankruptcy since they were bleeding cash. Even funnier, people believed that.

To be honest, both can be true. They're raising puny amounts of cash relative to either their market cap or their commitments. And like another comment assinuated, this could be a ploy by the UAE to protect their AI investment after the recent decline - $10 billion is being funded by MGX, an AI holding company of the UAE.