OpenAI will raise $40 billion in a SoftBank-led round to advance AI efforts
OpenAI announced on Monday that it will raise up to $40 billion in a new investment round led by SoftBank Group (9984.T), opening a new tab at a $300 billion valuation to promote AI research, expand computational infrastructure, and improve its tools.
The Japanese tech investment group announced that it has agreed to fund OpenAI with $10 billion in mid-April and an additional $30 billion in December, subject to the AI startup being for-profit by the end of the year.
If OpenAI’s restructuring fails, SoftBank warned its total investment in the round would be reduced to $20 billion.
OpenAI stated that it aims to provide increasingly sophisticated tools to the 500 million people who use ChatGPT every week.
Investor interest in the artificial intelligence sector has increased dramatically in recent years, owing to the widespread adoption of chatbots and the emergence of advanced AI agents.
Enterprises have integrated AI technology to optimize operations and improve customer experiences, while venture capital firms battle to fund innovative AI startups.
San Francisco-based OpenAI closed a $6.6 billion investment round in October, valuing the business at $157 billion. The latest round of funding would nearly treble the AI startup’s valuation.
