OpenAI Lands Unprecedented $40 Billion Funding.
SoftBank spearheads an investment round that values OpenAI at $300 billion, as the organization intends to broaden its AI research and infrastructure.
OpenAI, the creator of ChatGPT, has finalized a $40 billion funding round, marking the largest sum ever raised by a private tech firm.
This new investment values OpenAI at $300 billion, nearly three times the previous high for a private technology company.
SoftBank spearheaded the funding round with a $30 billion investment, along with contributions from other investors such as Microsoft, Coatue, Altimeter, and Thrive.
The capital will be utilized to 'push the boundaries of AI research even further' and to enhance OpenAI's computing infrastructure.
About $18 billion of this investment is allocated for the Stargate project, a partnership among SoftBank, OpenAI, and Oracle.
The investment comes with stipulations, including the condition that OpenAI must transition to a for-profit entity by December 31, 2025, or risk having SoftBank's investment reduced to $20 billion.
OpenAI aims to leverage this new funding for growth, having reported that ChatGPT has surpassed 500 million users, an increase of 100 million from the previous month.
Additionally, the company anticipates its revenue will triple to $12.7 billion by the year's end.
This new investment values OpenAI at $300 billion, nearly three times the previous high for a private technology company.
SoftBank spearheaded the funding round with a $30 billion investment, along with contributions from other investors such as Microsoft, Coatue, Altimeter, and Thrive.
The capital will be utilized to 'push the boundaries of AI research even further' and to enhance OpenAI's computing infrastructure.
About $18 billion of this investment is allocated for the Stargate project, a partnership among SoftBank, OpenAI, and Oracle.
The investment comes with stipulations, including the condition that OpenAI must transition to a for-profit entity by December 31, 2025, or risk having SoftBank's investment reduced to $20 billion.
OpenAI aims to leverage this new funding for growth, having reported that ChatGPT has surpassed 500 million users, an increase of 100 million from the previous month.
Additionally, the company anticipates its revenue will triple to $12.7 billion by the year's end.
