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OpenAI close to finalising its $40 billion SoftBank-led funding
Economic Times
·
3m ago
Medial
OpenAI is nearing a $40 billion funding round led by SoftBank Group, involving investors like Magnetar Capital, Coatue Management, Founders Fund, and Altimeter Capital. Magnetar may contribute up to $1 billion. If completed, it will be the largest funding round ever, valuing OpenAI at $300 billion. SoftBank plans an initial $7.5 billion investment and a later $22.5 billion, with other syndicates contributing $2.5 billion and $7.5 billion, respectively.
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OpenAI's Altman to stop in Abu Dhabi for MGX fundraising talks
VCCircle
·
5m ago
Medial
OpenAI CEO Sam Altman is visiting Abu Dhabi to discuss fundraising talks with investment group MGX. This move follows a busy Asia tour where Altman announced a partnership with Japan's SoftBank. OpenAI's initiative aims to strengthen its AI capabilities amid competition from China's DeepSeek. MGX previously participated in a $6.6 billion OpenAI funding round. Meanwhile, SoftBank is considering leading a significant $40 billion investment in OpenAI, highlighting the competitive AI landscape globally.
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OpenAI says it raised $40 billion at valuation of $300 billion
Economic Times
·
3m ago
Medial
OpenAI has raised $40 billion at a $300 billion valuation, partnering with SoftBank to accelerate AI research. The funding supports developing AI systems for diverse applications, aiming for artificial general intelligence (AGI). SoftBank will invest $10 billion initially, with $30 billion more pending conditions. OpenAI plans a strategic shift towards more open AI models, addressing competition and concerns over data security. This move contrasts with its previous closed-model approach, sparking debate with figures like Elon Musk.
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SoftBank posts profit in FY24 as global bets offset headwinds from Indian bets
YourStory
·
2m ago
Medial
SoftBank Group Corp reported a profit of 517.18 billion yen ($3.49 billion) for fiscal year ending March 2025, driven by gains from its Vision Fund I investments despite setbacks from Indian ventures like Swiggy, Ola Electric, and OYO. Although Vision Fund II faced challenges, SoftBank made significant exits from companies like DoorDash. Despite struggling Indian investments, SoftBank is focusing on AI, leading a $40 billion funding round for ChatGPT-maker OpenAI, highlighting its strategic shift.
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OpenAI must complete for-profit transition by year-end to raise full $40 billion
Economic Times
·
3m ago
Medial
OpenAI is required to transition to a for-profit entity by year-end to secure $40 billion in funding led by SoftBank. If the transition is incomplete, funding could be reduced to $20 billion. This accelerated deadline follows a two-year timeline from their last financing round, emphasizing the need for capital to develop top AI models. The transition is crucial for securing necessary resources, with SoftBank's involvement highlighting the importance of restructuring.
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OpenAI wins $200 million US defense contract
Economic Times
·
29d ago
Medial
OpenAI has secured a $200 million contract to provide AI tools to the U.S. Defense Department, focusing on enhancing national security in both warfighting and enterprise areas. The project is expected to be completed by July 2026, primarily in Washington. OpenAI's annual revenue run rate reached $10 billion as of June, and the company plans to raise up to $40 billion with a new funding round led by SoftBank, targeting a $300 billion valuation.
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SoftBank's Vision Fund to Invest $500 Million in OpenAI
deepnewz
·
9m ago
Medial
SoftBank's Vision Fund is set to invest $500 million in OpenAI, valuing the company at $150 billion. OpenAI, known for creating ChatGPT, is in the process of raising $6.5 billion in total for its latest funding round. This investment from SoftBank marks a significant milestone for the company, as it is the first time they have received funding from the Japanese telecom company. The investment is led by Sam Altman, the CEO of OpenAI.
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SoftBank books surprise loss of $2.4 billion in third quarter
Economic Times
·
5m ago
Medial
Japanese tech investor SoftBank reported a surprising $2.4 billion net loss in Q3 due to valuation drops in Vision Fund investments, including Coupang, Didi Global, and AutoStore Holdings. This raises concerns about funding its planned $25-$40 billion investment in OpenAI and a $15 billion commitment to a U.S. AI data center venture. SoftBank's cash reserves decreased significantly, and the Vision Fund unit ended a profit streak with a 352.7 billion yen loss.
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OpenAI has discussed raising money from Saudi Arabia, India’s Reliance Industries: The Information reports
Economic Times
·
1m ago
Medial
OpenAI is exploring a $40 billion funding round with investors from Saudi Arabia, India, and the UAE, including PIF, Reliance Industries, and MGX. The financing is intended to support model development and the Stargate infrastructure project, with significant contributions expected from each investor. SoftBank is leading the initiative, and OpenAI has also discussed raising funds with Coatue and Founders Fund. The company anticipates raising an additional $17 billion by 2027.
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OpenAI sees $11.6 billion revenue next year, offers Thrive chance to invest again in 2025
Economic Times
·
9m ago
Medial
Thrive Capital is set to invest over $1 billion in OpenAI's current $6.5 billion fundraising round. As part of the deal, Thrive has the potential to invest another $1 billion next year if OpenAI reaches a revenue goal. OpenAI predicts its revenue will reach $11.6 billion in 2023, while losses for this year could be as high as $5 billion. The funding round, expected to close next week, could value OpenAI at $150 billion. Thrive Capital led OpenAI's previous funding round and is offering $1.2 billion for this round. Other investors include Microsoft, Apple, Nvidia, and Khosla Ventures.
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Google invests $1 billion more in OpenAI rival Anthropic: Reports
Inshorts
·
5m ago
Medial
Google is investing $1 billion in AI startup Anthropic, a major competitor of ChatGPT maker OpenAI, as per reports. The latest funding is in addition to the $2 billion that Google has already invested in the startup. It was earlier reported that Anthropic was close to raising $2 billion in a Lightspeed-led round at a valuation of about $60 billion.
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