One of the most important companies in artificial intelligence has a new pile of cash. And it’s one of the largest venture capital rounds in American history.
What’s happening:
- OpenAI has raised $40B USD in a new financing round
By the numbers:
- OpenAI’s $40B USD capital raise values the company at approximately $300B USD
Why it matters:
- This is one of the largest venture capital raises ever for a privately owned technology company in the United States of America
Going deeper:
- SoftBank led the latest funding round, with participation from existing investors in OpenAI including Thrive Capital, Microsoft (NASDAQ: MSFT), Coatue and Altimeter
- SoftBank and OpenAI also recently made waves together with the launch of their half a trillion dollar bet on building out data centres and artificial intelligence infrastructure within the United States
The fine print:
- $30B USD of the investment round is being withheld until OpenAI successfully restructures into a for profit company within the United States of America
