ChatGPT-maker OpenAI finalizes $40 billion funding round at $300 billion valuation
OpenAI, the artificial intelligence company behind ChatGPT, said it has finalized a funding round that will bring in $40 billion from SoftBank Group Corp. and other investors at a $300 billion valuation, including money raised.
The AI developer’s financing round is the largest of all time, according to data compiled by research firm PitchBook. The deal values the ChatGPT maker at almost double its previous valuation of $157 billion when it raised money in October. Bloomberg reported on March 26 that OpenAI was close to buttoning up the $40 billion financing deal.
SoftBank, which is leading the deal, will initially invest $7.5 billion in the company along with $2.5 billion from an investor syndicate, according to a person familiar with the agreement. Additional investors in the group include Microsoft Corp., Coatue Management, Altimeter Capital Management, and Thrive Capital, said the person, who asked not to be identified discussing private details.
MacDailyNews Take: Not bad for an open source non-profit.
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