OpenAI Secures $40 Billion in Funding at $300 Billion Valuation

OpenAI has announced the successful closure of one of the largest private funding rounds in history, raising $40 billion at a post-money valuation of $300 billion.

According to a blog post on the company’s website, the funding round was led by SoftBank, with participation from existing investors including Microsoft, Coatue, Altimeter, and Thrive.

“This new capital enables us to push the frontiers of AI research even further, scale our compute infrastructure, and deliver increasingly powerful tools for the 500 million people who use ChatGPT every week,” OpenAI stated in the post. “We’re excited to be working in partnership with SoftBank Group — few companies understand how to scale transformative technology like they do.”

CNBC, citing a source familiar with the matter, reported that approximately $18 billion of the funds will be allocated to OpenAI’s ambitious Stargate infrastructure project. Stargate aims to develop a network of AI data centers across the U.S. to support the company’s growing compute demands.