OpenAI To Raise $40 Billion In Softbank-Led Round To Boost AI Efforts
OpenAI is raising up to $40 billion in a new funding round, led by SoftBank Group, to advance AI research, expand its infrastructure, and enhance its tools.
The funding will consist of $10 billion from SoftBank in April and an additional $30 billion in December, contingent on OpenAI transitioning to a for-profit model by the end of the year.
SoftBank plans to share $10 billion of its investment with other unnamed co-investors. Microsoft, Coatue Management, Altimeter Capital, and Thrive Capital will also contribute to the funding.
This new round, which values OpenAI at $300 billion, comes after a $6.6 billion round in October that valued the company at $157 billion.
The funding will help OpenAI meet its ambitious goals, including its Stargate project, a $500-billion initiativ...
