Synopsis
OpenAI is nearing a deal to raise about $10 billion from venture investors, lifting its latest funding round to roughly $120 billion. Backers include MGX, Coatue Management, Thrive Capital, and Altimeter Capital. The deal would support its push for computing power and talent, marking its largest funding round yet.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.
The investments are expected to be finalised by the end of this month, the people said. Talks are ongoing and the final amount could change.
The ChatGPT maker announced last month that it had finalized a deal to raise $110 billion in funding from Amazon.com Inc., Nvidia Corp. and SoftBank Group Corp. Bloomberg News previously reported OpenAI planned to seek more money from venture firms before completing the round.
OpenAI declined to comment. Representatives for Coatue, MGX, Thrive and Altimeter did not respond to requests for comment.
The deal marks OpenAI’s largest funding round to date and bolsters its costly push to secure more computing power and talent for AI development. The additional capital would bring OpenAI’s valuation to around $850 billion, including the money raised.
OpenAI rival Anthropic PBC completed a deal last month to raise $30 billion from investors at a $380 billion valuation. MGX co-led that funding round.
