OpenAI was previously reported to be raising $30 billion at a $1.4 trillion valuation, and then at a $1.25 trillion valuation, ahead of a planned IPO. But The Financial Times reported Friday that the company has subsequently lowered its funding target to $20 billion, with a first close that's expected to be even lower than that. The round will be led by a group of investors from the United Arab Emirates, the FT said. A subsequent retail offering for wealthy individuals could bring the total funding amount to the $20 billion target. A follow-up story in The Wall Street Journal offered more details, namely that the company has secured $11 billion so far, and that its fundraising efforts had met with a 'tepid' response from some large investors. TechCrunch has reached out to OpenAI for comment. The company's reported funding challenges could be blamed, in part, on bad timing, as Wall Street investors have become wary of heavy AI infrastructure spending, leading to a major sell off of tech stocks. And Anthropic's planned IPO could be facing challenges, too....

TikTok announced this week that it's adding an in-app restaurant guide, marking another step in the platform's expansion beyond social media. The company has also recently been spotted developing a feature that would allow users to send money over direct messages. The social media app has steadily expanded its offerings in recent years, adding TikTok Shop, a map for local discovery, more robust search features, games, and more. It appears that TikTok is taking steps to evolve into a 'super app,' a single platform where users can do much more than just watch and share videos and that can actually handle a wide range of needs in one destination. The super app model is big in China with apps like WeChat, which is kind of like Facebook, WhatsApp, Apple Pay, and an app store all rolled into a single platform. Of course, there's the question of whether a super app model would work outside of China, but that doesn't mean TikTok won't try. Instead of switching between apps, TikTok is working to become the app that people use for most of their digital activities. After taking its biggest leap with TikTok Shop, the company ' which, notably, transitioned to new, primarily U.S. ownership back in January ' has applied the same playbook to recent developments....

Over the past couple years, Apple has often been described as behind on AI, especially as it delayed the release of a more powerful version of Siri, which finally launched this summer. But while Ternus ' a longtime Apple executive who officially became CEO at the beginning of September ' acknowledged that 'everyone has an opinion,' he insisted, 'I really like where we're at.' Ternus added that Apple is 'absolutely going to leverage AI' in its new products, but he said, 'We don't want to ship AI for AI's sake. When we're doing it right, people won't have to think about whether it was AI that made this happen or more traditional software. What matters is, did we build something that they really love'' And when Levy pressed him on whether AI might affect Apple and its ecosystem more dramatically, with agents potentially making things like apps unnecessary, Ternus replied,'That could make life really easy, I suppose, but the creation of products is a deeply human and personal thing, something that we love to do.'...

A federal judge denied a motion by xAI seeking to dismiss an NAACP lawsuit accusing the SpaceX-owned company of failing to obtain permits needed to operate the gas turbines powering its Colossus data center outside Memphis. Suing on behalf of the NAACP, the Southern Environmental Law Center said the AI company had 'installed and operated at least 35 combustion turbines and other sources of air pollution at the Colossus site without ever obtaining the necessary preconstruction or operating air permits.' It also accused xAI of violating the Clean Air Act. xAI sought to have the lawsuit dismissed, claiming that the turbines are exempt from permitting requirements because they're mobile. The company also argued that the plaintiffs did not have the standing to sue. 'Because the plaintiffs have statutory standing under the Clean Air Act, because the combustion turbines are not 'mobile sources' under Mississippi's [State Implementation Plan], and because the citizen suit provision does not violate Article II of the Constitution or the private nondelegation doctrine, the plaintiffs' claims will proceed,' Judge Debra M. Brown wrote in her decision....