The AI boom is facing another supply crunch. This time it’s the amount of capital available to feed Silicon Valley’s endless need for cash

Hyperscalers have already been grappling with shortages of chips, materials and other physical inputs needed for AI infrastructure. They are also running out of political capital as voters push back on the aggressive data center build-out.

Now thespigot of money is starting to dry up. OpenAI slashed the target on its latest funding round to $20 billion from $30 billion,sources told theFinancial Times.

That’s after securing about $11 billion in commitments, less than half of its original goal,according to theWall Street Journal.

A top credit rating agency also dented Silicon Valley’s appeal to…