Story: Openai says it will raise $40 billion in new funding to help drive research.
Chatgpt maker said on Monday that the new fundraising round will be led by SoftBank.
The huge Japanese tech investor will provide 75% of the funding, with the rest coming from Microsoft and other investment groups, Reuters sources said.
The deal is worth $300 billion.
That’s almost double the price you invested in a round of financing at the end of last year.
Openai said it will use new funds to drive research and develop powerful new tools.
It partnered with SoftBank and Oracle to develop a data center network under the $500 billion Stargate project.
Targeted to power AI services in the United States
Reuters sources said Openai must complete the transition to a for-profit company by the end of the year to secure SoftBank’s full funding.
It was originally established as a nonprofit, but said it had to change because of the need to raise a lot of money from investors.
The latest fundraising campaign makes it one of the most valuable private companies in the world, as well as the likes of Elon Musk’s SpaceX and Tiktok owner Bondentance.
