OpenAI raises $8.3 billion at $300 billion valuation: NYT

OpenAI has secured $8.3 billion in new funding, valuing the company at an estimated $300 billion, according to The New York Times. The oversubscribed round came months ahead of schedule, a part of OpenAI's broader strategy to secure $40 billion this year.

Back in March, OpenAI shared plans to raise significant capital, with SoftBank expected to invest up to $30 billion by the end of the year. In the same month, the company had already raised $2.5 billion from venture capital firms, aiming to bring in another $7.5 billion before year-end. However, the funding came in faster and well above target.

A wide range of new investors joined this latest round, including major private equity firms like Blackstone and TPG, as well as mutual fund manager T. Rowe Price. Other notable participants included Fidelity, Founders Fund, Sequoia Capital, Andreessen Horowitz, Coatue, Altimeter, D1 Capital, Tiger Global, and Thrive Capital.


The largest single investment came from Dragoneer Investment Group, which committed $2.8 billion.

The report also highlighted OpenAI’s strong financial growth. The company’s annual recurring revenue has jumped to $13 billion, up from $10 billion in June. It is expected to exceed $20 billion by the end of this year.

Meanwhile, the number of businesses paying to use ChatGPT has grown rapidly, rising from three million to five million in just a few months.