OpenAI set to raise about $10 billion from MGX, Coatue, Thrive

OpenAI is nearing a deal to raise about $10 billion from venture investors, according to people familiar with the matter, bringing the total haul from its latest funding round to roughly $120 billion.

Abu Dhabi’s MGX, Coatue Management and Thrive Capital are set to participate in the round at a $730 billion valuation, not including the money raised, said the people, who spoke on condition of anonymity to discuss private information. Altimeter Capital is also planning to put in money, the people said.