OpenAI Surpasses Target with $122bn Funding Round, Valuation Reaches $852bn

OpenAI has closed a $122bn funding round at a $852bn valuation, exceeding its initial target of $110bn. The round was co-led by SoftBank and strategic investors including Amazon, Nvidia, and Microsoft. Amazon led the round with a $50bn investment commitment, while Nvidia and SoftBank invested $30bn each. OpenAI plans to use two gigawatts of computing capacity powered by Amazon Trainium chips and will use AWS as the exclusive third-party cloud provider for OpenAI Frontier. The company has seen substantial growth in user numbers and revenue streams since releasing ChatGPT in 2022, with current monthly revenues of around $2bn.