While you’re busy Ghibli-fying your images with ChatGPT’s new image-generation capabilities, OpenAI is out raising a ton more cash. The company is close to finalizing a new $40 billion funding round led by SoftBank, according to a report from Bloomberg.
The report noted that other funds, including the hedge fund Magnetar Capital, Coatue Management, Founders Fund, and Altimeter Capital Management, are also in discussions with OpenAI to participate in the round, with Magnetar potentially putting in $1 billion.
Bloomberg said SoftBank will initially put in $7.5 billion, with an additional $2.5 billion coming from an investor syndicate. The report added that a second tranche is expected this year, wherein the Japanese conglomerate will invest another $22.5 billion, and $7.5 billion more will be syndicated.
OpenAI last raised a $6.6 billion round led by Thrive Capital in October 2024 at a $157 billion valuation. Bloomberg’s latest report said the new mega round will take the company to a massive $300 billion valuation.