Overview
- OpenAI’s latest funding round raised $8.3 billion five months ahead of schedule, valuing the company at $300 billion and closing five times oversubscribed.
- Dragoneer Investment Group led the tranche with a $2.8 billion commitment that represents about 10 percent of its total funds.
- New institutional backers such as Blackstone, TPG and T. Rowe Price joined existing investors including Fidelity, Sequoia Capital, Andreessen Horowitz, Tiger Global and Thrive Capital.
- Annual recurring revenue climbed from $10 billion in June to $13 billion, while paid ChatGPT business users rose from three million to five million.
- OpenAI continues negotiations with Microsoft to finalize its shift from nonprofit governance to a fully for-profit structure ahead of a potential IPO.