OpenAI has closed a funding round totaling $122 billion, giving the company a post-money valuation of $852 billion. The round is the largest in Silicon Valley history, according to the Wall Street Journal.
Amazon, Nvidia, and SoftBank anchored the deal with $110 billion in combined commitments. The remaining $12 billion came from a broader group of investors, including Andreessen Horowitz, D. E. Shaw Ventures, Sequoia Capital, Fidelity, BlackRock, and others. Microsoft, a longtime partner, also participated, though OpenAI did not disclose the size of its contribution.
For the first time, OpenAI opened the round to individual investors through bank channels, raising more than $3 billion from that group. The company also announced it will be included in several exchange-traded funds managed by ARK Invest.
OpenAI says it is currently generating $2 billion in monthly revenue. The company reported $13.1 billion in revenue for last year, according to CNBC. It remains unprofitable.
ChatGPT now has more than 900 million weekly active users and over 50 million subscribers, OpenAI said. Enterprise customers account for more than 40% of revenue.
OpenAI said it plans to build a unified AI application that brings together ChatGPT, its coding tool Codex, and other features into a single platform. The company has already shut down its Sora video AI to focus resources on productivity tools, the Wall Street Journal reported.
An IPO is expected by the end of the year.
Sources: OpenAI Statement, Wall Street Journal, CNBC
