OpenAI close to finalizing $40 billion SoftBank-led funding - The Largest of All Time
OpenAI is on the verge of closing a remarkable $40 billion (¥6 trillion) funding round spearheaded by SoftBank Group. The funding involves key investors such as Magnetar Capital, Coatue Management, Founders Fund, and Altimeter Capital Management, as per sources familiar with the situation.
Magnetar Capital, a hedge fund based in Evanston, Illinois, is anticipated to contribute as much as $1 billion to the funding round, according to undisclosed sources due to the confidential nature of the information.
If finalized, this funding round for the artificial intelligence developer would go down in history as the largest ever, based on data gathered by research firm PitchBook. The deal is expected to set the company's valuation at $300 billion post-funding, nearly doubling the valuation of $157 billion from the previous funding round in October.
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