Breaking News: OpenAI Secures $8.3 Billion Investment Valuing Company at an Impressive $300 Billion!
In a significant development, OpenAI, the innovator behind ChatGPT, has successfully secured an $8.3 billion investment at a valuation of $300 billion, as reported by The New York Times. This fundraising round is part of OpenAI’s ambitious strategy to raise $40 billion this year.
The oversubscribed funding round was concluded ahead of schedule, according to The New York Times. Initially, in March, OpenAI had announced its intention to raise $40 billion, spearheaded by Softbank, and had planned to secure an additional $7.5 billion by the end of the year. However, due to overwhelming investor interest, the company has surpassed this target earlier than anticipated.
On Thursday, The Information reported that OpenAI has achieved an annualized revenue of $12 billion and boasts over 700 million weekly active users of ChatGPT. Today, The Times reports a slightly higher figure, estimating the annual revenue to be around $13 billion, with projections reaching $20 billion by year-end. Other favorable factors include the Trump administration’s AI Action Plan and ongoing discussions with Microsoft that could propel OpenAI towards its goal of transforming into a fully profitable enterprise.
The New York Times reports that Dragoneer Investment Group led the round with an impressive investment of $2.8 billion. The funding round saw participation from several prominent investors, including Blackstone, TPG (private equity giants), and T. Rowe Price (mutual fund manager). Other participants include Altimeter Capital, Andreessen Horowitz, Coatue Management, D1 Capital Partners, Fidelity Management, Founders Fund, Sequoia Capital, Tiger Global, and Thrive Capital.
