OpenAI Announces $6.6 Billion in Funding, Nearly Doubling Valuation to $157 Billion

Artificial-intelligence tech company OpenAI said it has raised $6.6 billion in new funding, giving it a massive post-money valuation of $157 billion, almost double its previous valuation.

The new round of funding was led by Thrive Capital, with additional investors including Microsoft, Nvidia, SoftBank.

In 2024, OpenAI is projecting a $5 billion net loss on $3.7 billion in revenue, CNBC reported. Next year, the company is targeting $11.6 billion in revenue, per the report.

“We are making progress on our mission to ensure that artificial general intelligence benefits all of humanity,” OpenAI said in a statement announcing the funding. “Every week, over 250 million people around the world use ChatGPT to enhance their work, creativity and learning. Across industries, businesses are improving productivity and operations, and developers are leveraging our platform to create a new generation of applications. And we’re only getting started.”

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The new funding “will allow us to double down on our leadership in frontier AI research, increase compute capacity, and continue building tools that help people solve hard problems,” OpenAI said in a blog post Wednesday.

“We aim to make advanced intelligence a widely accessible resource,” the company continued. “We’re grateful to our investors for their trust in us, and we look forward to working with our partners, developers, and the broader community to shape an AI-powered ecosystem and future that benefits everyone. By collaborating with key partners, including the U.S. and allied governments, we can unlock this technology’s full potential.”