OpenAI to raise $40 bn in funding round led by SoftBank for AI research

OpenAI said on Monday it would raise up to $40 billion in a new funding round led by SoftBank Group at a $300 billion valuation to advance AI research, expand computational infrastructure and enhance its tools.

The Japanese tech investment group said it has agreed to fund OpenAI with $10 billion in mid-April and an additional $30 billion in December, contingent on the AI firm transitioning to for-profit by the end of the year.