While you’re working with ChatGPT‘s new image generation capabilities, OpenAI is raising even more money. According to a Bloomberg report, the company is close to completing a new $40 billion funding round led by SoftBank.
The report notes that other funds, including hedge fund Magnetar Capital, Coatue Management, Founders Fund and Altimeter Capital Management, are also in talks with OpenAI to participate in the round, with Magnetar potentially contributing $1 billion.
Bloomberg reported that SoftBank will initially invest $7.5 billion, with an additional $2.5 billion coming from a syndicate of investors. The report adds that the second tranche is expected this year, when the Japanese conglomerate will invest another $22.5 billion, and another $7.5 billion will be syndicated.
OpenAI last raised a $6.6 billion round led by Thrive Capital in October 2024 at a valuation of $157 billion. A recent report by Bloomberg suggests that the new mega-round will value the company at $300 billion.
