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OpenAI set to raise $10 billion from MGX, Coatue and Thrive, source says

Reuters
Yesterday
OpenAI set to raise $10 billion from MGX, Coatue and Thrive, source says

March 24 (Reuters) - OpenAI is close to securing about $10 billion in fresh funding from investors, boosting its valuation to $850 billion, including the money raised, a person familiar with the matter said, confirming an earlier report in Bloomberg News.

  • Investors include Abu Dhabi's MGX, Coatue and Thrive Capital, the person said. Altimeter Capital is also expected to participate in the round, the person said.

  • The deal is expected to be finalized by next week, the person familiar with the matter said.

  • The additional funds would bring the total raise from OpenAI's latest funding round to about $120 billion, underscoring strong investor demand for AI companies.

  • The discussions are ongoing and the final size of the investment could change.

  • The ChatGPT maker said last month it was raising $110 billion from backers including Amazon.com AMZN.O, Nvidia NVDA.O and SoftBank Group 9984.T, as it ramps up spending on computing infrastructure and talent.

  • Coatue, MGX, Thrive and Altimeter did not immediately respond to Reuters' requests for comment.

(Reporting by Akash Sriram and Deepa Seetharaman; Editing by Shilpi Majumdar)

((Akash.Sriram@thomsonreuters.com; On X as @HoodieOnVeshti; +91-99017-77617;))

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