OpenAI closes $40 billion fundraising round with $300 billion valuation
After closing on the largest private round of fundraising ever, OpenAI is now valued at $300 billion. The round was led by SoftBank with $30 billion, and $10 billion from a group of investors.
A press release announcing the deal said:
“We’re excited to be working in partnership with SoftBank Group — few companies understand how to scale transformative technology like they do. Their support will help us continue building AI systems that drive scientific discovery, enable personalized education, enhance human creativity, and pave the way toward AGI that benefits all of humanity.”
CNBC reports that the $10 billion group included partner Microsoft (already in for $13 billion) and venture capital firms Coatue, Altimeter, and Thrive Capital.
OpenAI is currently fighting in the courts to turn itself into a primarily for-profit corporation. This week Reuters reported that this funding round was contingent on pulling off the for-profit pivot, or the investment could be halved.
“We’re excited to be working in partnership with SoftBank Group — few companies understand how to scale transformative technology like they do. Their support will help us continue building AI systems that drive scientific discovery, enable personalized education, enhance human creativity, and pave the way toward AGI that benefits all of humanity.”
CNBC reports that the $10 billion group included partner Microsoft (already in for $13 billion) and venture capital firms Coatue, Altimeter, and Thrive Capital.
OpenAI is currently fighting in the courts to turn itself into a primarily for-profit corporation. This week Reuters reported that this funding round was contingent on pulling off the for-profit pivot, or the investment could be halved.
