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2h ago

OpenAI Closes $8.3 Billion Round at $300 Billion Valuation

Part of a $40 billion capital campaign, the tranche underscores record gains in revenue, business users, progress toward a for-profit restructuring with Microsoft.

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OpenAI CEO Sam Altman is sitting pretty right now.
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OpenAI raises over $8 billion in latest funding round, reaching $300 billion valuation

Overview

  • OpenAI secured $8.3 billion in a round led by Dragoneer at a $300 billion valuation with demand five times oversubscribed.
  • The financing moves OpenAI closer to its $40 billion fundraising goal for the year, drawing new investors such as Blackstone, TPG and T. Rowe Price alongside earlier backers including SoftBank.
  • Annual recurring revenue jumped from $10 billion in June to $13 billion, with projections to exceed $20 billion by year’s end.
  • Paid business users of ChatGPT have climbed from 3 million to 5 million in recent months.
  • OpenAI is negotiating with Microsoft on a transition to a for-profit structure that will require the partner’s approval.