HomeOpenAI Secures $8.3 Billion Funding at $300 Billion Valuation
According to The New York Times, OpenAI, the creator of ChatGPT, has secured $8.3 billion in funding, valuing the company at $300 billion. This investment is part of OpenAI's larger effort to raise a total of $40 billion this year.
The funding round was oversubscribed and completed ahead of schedule, as reported by the NYT. Earlier in March, OpenAI had raised $2.5 billion from venture capital firms and announced its plan to secure $40 billion, with SoftBank leading the initiative. The AI leader originally aimed to collect an additional $7.5 billion by year-end but accelerated the process due to strong investor interest amid rapid growth.
On Thursday, The Information revealed that OpenAI achieved $12 billion in annualized revenue and exceeded 700 million weekly active users on ChatGPT. The Times now estimates the revenue is closer to $13 billion, with expectations to hit $20 billion by the end of the year. Additional boosts include the Trump administration's AI Action Plan and ongoing discussions with Microsoft, which could support OpenAI's transition into a fully for-profit company.
The Times also noted that Dragoneer Investment Group, a relatively low-profile investor, led this round with a substantial $2.8 billion commitment. Several new backers joined, including private equity leaders Blackstone and TPG, as well as mutual fund manager T. Rowe Price. Other participants featured Altimeter Capital, Andreessen Horowitz, Coatue Management, D1 Capital Partners, Fidelity Management, Founders Fund, Sequoia Capital, Tiger Global, and Thrive Capital.
Some of OpenAI's early investors were reportedly disappointed by the smaller shares they received in this round, as the company focused on attracting new strategic partners.
TechCrunch has contacted OpenAI for a statement.
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According to The New York Times, OpenAI, the creator of ChatGPT, has secured $8.3 billion in funding, valuing the company at $300 billion. This investment is part of OpenAI's larger effort to raise a total of $40 billion this year.
The funding round was oversubscribed and completed ahead of schedule, as reported by the NYT. Earlier in March, OpenAI had raised $2.5 billion from venture capital firms and announced its plan to secure $40 billion, with SoftBank leading the initiative. The AI leader originally aimed to collect an additional $7.5 billion by year-end but accelerated the process due to strong investor interest amid rapid growth.
On Thursday, The Information revealed that OpenAI achieved $12 billion in annualized revenue and exceeded 700 million weekly active users on ChatGPT. The Times now estimates the revenue is closer to $13 billion, with expectations to hit $20 billion by the end of the year. Additional boosts include the Trump administration's AI Action Plan and ongoing discussions with Microsoft, which could support OpenAI's transition into a fully for-profit company.
The Times also noted that Dragoneer Investment Group, a relatively low-profile investor, led this round with a substantial $2.8 billion commitment. Several new backers joined, including private equity leaders Blackstone and TPG, as well as mutual fund manager T. Rowe Price. Other participants featured Altimeter Capital, Andreessen Horowitz, Coatue Management, D1 Capital Partners, Fidelity Management, Founders Fund, Sequoia Capital, Tiger Global, and Thrive Capital.
Some of OpenAI's early investors were reportedly disappointed by the smaller shares they received in this round, as the company focused on attracting new strategic partners.
TechCrunch has contacted OpenAI for a statement.
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