OpenAI raises $6.6 billion at a $157 billion valuation
Thrive Capital led the October 2024 financing to support frontier AI research, computing capacity and product development.
OpenAI announced $6.6 billion in new funding at a $157 billion post-money valuation on 2 October 2024. Thrive Capital led the round, with participation from Microsoft, NVIDIA, SoftBank Vision Fund 2, Khosla Ventures, Altimeter Capital, Fidelity and MGX.
The company said the financing would support frontier AI research, expand its computing capacity and fund tools built around its models. Its products included ChatGPT and an API platform used by developers and businesses.
The round followed rapid growth in demand for generative AI services and the computing infrastructure needed to train and run them. Thrive also received an option to make a further investment; that option was separate from the announced $6.6 billion.
Use of funds
Advance frontier AI research
Increase computing capacity
Build AI products and tools