Official announcements from Microsoft or OpenAI, or major financial news outlets

OpenAI Raises $6.6 Billion in Largest VC Round, Valued at $157 Billion

Oct 2, 2024, 05:16 PM

OpenAI has successfully closed a significant funding round, raising $6.6 billion and achieving a valuation of $157 billion. This funding round, led by Thrive Capital and including investments from Microsoft, Nvidia, SoftBank, and others, is the largest venture capital round ever. Thrive Capital invested approximately $1.3 billion. Despite Apple opting out, OpenAI secured substantial backing. Microsoft contributed approximately $750 million to the round. The funding will support OpenAI's shift from a nonprofit to a for-profit structure, with investors having the option to withdraw if this transition is not completed within two years. Additionally, OpenAI has requested that investors refrain from supporting rival AI startups such as Elon Musk's xAI and Anthropic. This marks one of the largest-ever private investments and solidifies OpenAI's position as a leading AI powerhouse. The company, known for its ChatGPT, continues to attract significant interest from major players in the tech industry.