Get the latest tech news

OpenAI closes funding at $157 billion valuation, as Microsoft, Nvidia, SoftBank join round

OpenAI closed its long-awaited funding round, announcing that it raised $6.6 billion at a $157 billion post-money valuation.

While OpenAI didn't name the investors in Wednesday's press release, a person with knowledge of the matter said the round was led by Thrive Capital and included participation from existing backer Microsoft as well as chipmaker Nvidia, SoftBank and others. OpenAI's rapid ascent, which began with the launch of ChatGPT in late 2022, has been the biggest story in the tech industry over the last couple years, bringing the concept of generative artificial intelligence into the mainstream and paving the way for tens of billions of dollars of investments in AI infrastructure. "The new funding will allow us to double down on our leadership in frontier AI research, increase compute capacity, and continue building tools that help people solve hard problems," OpenAI wrote in a blog post Wednesday.

Get the Android app