OpenAI has closed its long-awaited funding round at a $157 billion valuation including $6.6 billion the company raised from investment firms and large tech companies.
While OpenAI did not name investors in a press release Wednesday, sources reported the round led by Thrive Capital included existing backers Microsoft, Nvidia, Softbank and others.
Thrive plans to invest $1 billion in the round.
OpenAi started making a name for themselves when they launched ChatGPT in late 2022 and sparked the biggest phenomenon in the technology industry in recent years by bringing the concept of generative artificial intelligence and paving the way for tens of billions of dollars of investment in AI infrastructure.
According to their statement, the new funding will allow them to double down on leadership in frontier AI research, increase computational capacity and continue to build tools that help people solve hard problems.
Meanwhile, OpenAI generated $300 million in revenue last month, a 1,700% increase since the beginning of last year.
The company expects to bring in $11.6 billion in sales next year, up from $3.7 billion in 2024.
OpenAI currently has 250 million weekly active users on ChatGPT and there are 11 million ChatGPT Plus subscribers and 1 million paid business users on ChatGPT.
