OpenAI is closing in on an $850 billion valuation as it finalizes a new $10 billion venture‑capital raise.
The funding, expected to wrap up next week, would lift the total amount raised by the company in the current round to about $120 billion, Bloomberg reported.
Andreeseen Horowitz, MGX, D.E. Shaw Ventures, TPG and T. Rowe Price are co-leading the financing for OpenAI’s latest funding round, CNBC reported, citing OpenAI’s Chief Finance Officer Sarah Friar. Microsoft Corp (NASDAQ:MSFT) is also participating in the deal, according to the outlet. Coatue Management, Thrive Capital and Altimeter Capital are also part of the funding round, according to Bloomberg.
OpenAI’s latest raise marks a dramatic escalation in …
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