OpenAI closes funding round raising over $6.5 bn, valuation now at $150 bn

OpenAI has completed a deal to raise over $6.5 billion in new funding, giving the artificial intelligence company a more than $150 billion valuation, and bolstering its efforts to build the world’s leading generative AI technology.

The deal is one of the largest-ever private investments, and makes OpenAI one of the three largest venture-backed startups, alongside Elon Musk’s SpaceX and TikTok owner ByteDance Ltd., according to people familiar with the matter who asked not to be identified discussing private information. The size of the investment underscores the tech industry’s belief in the power of AI, and its appetite for the extremely costly research powering its advancement.