OpenAI raises $8.3 billion at $300 billion valuation: NYT

OpenAI has secured $8.3 billion in new funding, valuing the company at an estimated $300 billion, according to The New York Times. The oversubscribed round came months ahead of schedule, a part of OpenAI’s broader strategy to secure $40 billion this year.

Back in March, OpenAI shared plans to raise significant capital, with SoftBank expected to invest up to $30 billion by the end of the year. In the same month, the company had already raised $2.5 billion from venture capital firms, aiming to bring in another $7.5 billion before year-end. However, the funding came in faster and well above target.