OpenAI close to finalizing US$40 billion funding haul

OpenAI is reportedly close to finalizing a US$40 billion (HK$312 billion) funding round led by SoftBank, according to Bloomberg, citing sources.

Investors said to be in the talks to participate include Magnetar Capital, Coatue Management, Founders Fund and Altimeter Capital Management.

Specifically, Magnetar Capital could contribute up to US$1 billion.

Data from research firm PitchBook shows that the ChatGPT maker’s funding round would be the largest of all time.

The deal is set to value OpenAI at US$300 billion including dollars raised — almost double its previous valuation of US$157 billion from when it raised US$6.6 billion in October of last year.

STAFF REPORTER