OpenAI close to finalising $40 bn SoftBank-led funding at $300 bn valuation

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OpenAI close to finalising $40 bn SoftBank-led funding at $300 bn valuation - Business Standard

Quick Summary:

The Japanese conglomerate has separately committed billions to the Stargate Project, the Abilene, Texas-based joint venture with partners including OpenAI, Oracle Corp.and MGX.

Representatives for OpenAI, Magnetar and Founders Fund declined to comment on the funding round.

There will be a second tranche of $30 billion later this year that will include $22.5 billion from SoftBank, and $7.5 billion from a syndicate, this person said.