OpenAI Closes $40 Billion Funding Round Led by SoftBank

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4 days ago

Summary

OpenAI closes massive $40 billion funding round led by SoftBank, valuing the company at $300 billion. The round is expected to be finalized soon and follows OpenAI's previous $6.6 billion raise in October 2024.

Key Points

The new funding round will take OpenAI's valuation to $300 billion, a significant increase from its last valuation of $157 billion.
SoftBank will lead the round with an initial investment of $7.5 billion, followed by another $22.5 billion in the second tranche.
Other funds, including Magnetar Capital, Coatue Management, Founders Fund, and Altimeter Capital Management, are also participating in the round.

Why It Matters

This massive funding round highlights OpenAI's significant growth and the increasing importance of AI in various industries.

Author

Ivan Mehta

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