OpenAI is putting the finishing touches on the first phase of a massive new funding round expected to exceed $100 billion, according to sources familiar with the matter. The landmark deal would provide the ChatGPT maker with even more firepower to expand its artificial intelligence capabilities—especially as it prepares to pour trillions into infrastructure investments.
If finalized, the overall valuation of the company—including the new funding—could climb past $850 billion, some sources say. That would surpass the earlier expectation of $830 billion. The company’s pre-money valuation is set to remain at $730 billion, according to one person familiar with the discussions.
The initial portion of the round is expected to be led by strategic investors, including Amazon, SoftBank, Nvidia, and Microsoft, the sources said. If these commitments land near the upper end of what’s been discussed, they could collectively approach $100 billion. Allocations from these investors are expected to be finalized by the end of the month.
News of the deal gave SoftBank a boost in Tokyo trading Thursday, with shares rising as much as 4%. The Japanese conglomerate held roughly an 11% stake in OpenAI as of December.
A second phase of the round—open to venture capital firms, sovereign wealth funds, and other financial investors—is expected to close later and could push the total raised even higher, sources added.
The deal remains in flux and details could still shift, some cautioned.
Representatives for OpenAI, Amazon, Nvidia, SoftBank, and Microsoft either declined to comment or did not immediately respond to requests for comment.
Reports indicated Amazon could invest up to $50 billion, SoftBank as much as $30 billion, and Nvidia around $20 billion. Funds from corporate backers are expected to be delivered in multiple installments throughout the year.
As part of its expanded partnership with Amazon, OpenAI is also expected to increase its use of Amazon’s chips and cloud infrastructure, according to one source.
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