OpenAI to raise $40 billion in SoftBank-led round to boost AI efforts
OpenAI has announced that it will raise up to $40 billion in a new funding round led by SoftBank Group, which will bring the company's valuation to $300 billion.
The funds will be used to advance AI research, expand computational infrastructure, and enhance OpenAI's tools, Caliber.Az reports, citing foreign media.
The Japanese tech investment group has committed to providing $10 billion in mid-April and an additional $30 billion in December, contingent on OpenAI transitioning to a for-profit structure by the end of the year.
SoftBank plans to distribute $10 billion of its total investment to other unnamed co-investors. According to a source familiar with the matter, the remaining funding will come from Microsoft, Coatue Management, Altimeter Capital, and Thrive Capital. If OpenAI's restructuring does not proceed, SoftBank's total investment in the round will be reduced to $20 billion.
OpenAI stated that the goal is to provide increasingly powerful tools to the 500 million people who use ChatGPT each week.
Investor enthusiasm for the artificial intelligence sector has grown significantly in recent years, fueled by the widespread adoption of chatbots and the rise of advanced AI agents. Enterprises have integrated AI solutions to optimize their operations and improve customer experiences, while venture capital firms compete to fund promising AI startups.
In October, San Francisco-based OpenAI closed a $6.6 billion funding round, which valued the company at $157 billion. The new funding round will nearly double the valuation of the AI startup.
By Khagan Isayev