OpenAI to raise $40 billion in SoftBank-led funding; deal to place company among world’s most valuable pvt firms

San Francisco-based AI powerhouse OpenAI announced on Monday that it will raise $40 billion in a fresh funding round led by SoftBank Group, valuing the company at a staggering $300 billion. The capital infusion aims to advance AI research, expand computational infrastructure and enhance OpenAI’s suite of AI tools.

A Reuters report quoted sources as saying that SoftBank will contribute 75% of the funding, while the remainder will come from existing investors, including Microsoft, Coatue Management, Altimeter Capital and Thrive Capital.