OpenAI Raises $40 Billion USD in Latest Funding Round
To further boost AI efforts at a $300 billion USD valuation.
In the latest funding round, OpenAI said it would raise $40 billion USD to further push for advanced AI research. The company closed one of the largest private funding rounds this week and the company is now valued at $300 billion USD post-financing. SoftBank led the financing alongside other investors such as Microsoft, Coatue, Altimeter and Thrive.
In a blog post on the company’s website, OpenAi wrote, “[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. We’re excited to be working in partnership with SoftBank Group — few companies understand how to scale transformative technology like they do.”
According to CNBC, about $18 billion USD will go toward’s OpenAI’s Stargate infrastructure project to establish a network of AI data centers around America. The funding will also go towards delivering increasingly powerful tools for the over 500 million people who use ChatGPT every week. This round of funding comes after OpenAI closed a $6.6 billion USD funding round last October and the recent Ghibli-style AI images that have gone viral.
