OpenAI just raised another $40 billion round led by SoftBank

OpenAI, the creator of ChatGPT, has raised $40bn in a record-breaking funding round led by SoftBank.
The investment values OpenAI at $300bn, making it one of the world’s most valuable privately held companies.
The deal includes a $10 bn u p f ro n tp a y m e n t, w i t h t h ere mainin g$ 30bn to be paid by the end of 2025, pending conversion of OpenAI to a for-profit company.
The funding will be used to realise OpenAI’s ambition to create artificial general intelligence (AGI) that benefits all of humanity.
CEO Sam Altman emphasised the company’s massive compute, energy and infrastructure requirements to achieve this goal.
The investment comes after OpenAI’s announcement of Stargate, a $500m venture to build AI data centres.
Despite ChatGPT’s soaring popularity, OpenAI is still losing money, with projections for profitability set at 2029 with $125bn revenue.

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