OpenAI raised $8.3 billion in a new funding round

OpenAI, the developer of ChatGPT, has raised $8.3 billion from a group of private investors and venture capital funds. The new round supports the company's valuation at $300 billion and brings it closer to a potential initial public offering.

Among the investors are both existing and new participants, including Blackstone, TPG, Fidelity Management, and T Rowe Price.

San Francisco-based Dragoneer Investment Group is investing $2.8 billion — one of the largest individual contributions to the startup.

Although the round was announced back in March, the new wave of investor interest came amid tense negotiations between OpenAI and Microsoft over potential changes to the company's corporate structure. According to sources, OpenAI's annual revenue from its subscription model has reached $12 billion, and the company is preparing to launch its new model, GPT-5, as early as this month.

This tranche is part of a broader $40 billion round announced earlier. SoftBank has already invested $7.5 billion of its promised $30 billion.

Key venture capital firms participating in the round include Founders Fund, Sequoia Capital, Andreessen Horowitz, Coatue Management, Altimeter Capital, D1 Capital Partners, Tiger Global, and Thrive Capital.

Source: Financial Times