OpenAI lands $8.3B at $300B valuation
OpenAI secured $8.3 billion in funding at a $300 billion valuation, The New York Times reported, as part of its effort to raise $40 billion this year.
The oversubscribed funding round concluded months ahead of schedule. OpenAI previously obtained $2.5 billion from venture capital firms in March when announcing its $40 billion target led by SoftBank. The company planned to secure an additional $7.5 billion by year’s end but accelerated the process following intense investor interest during rapid growth.
The Information reported OpenAI reached $12 billion in annualized revenue with over 700 million weekly active ChatGPT users. The New York Times revised the revenue estimate to approximately $13 billion, projecting $20 billion by late 2024. External factors include the Trump administration’s AI Action Plan and ongoing Microsoft discussions, potentially supporting OpenAI’s transition toward a for-profit structure.
Dragoneer Investment Group led the round with a $2.8 billion investment. New participants included private equity firms Blackstone and TPG, mutual fund manager T. Rowe Price, Altimeter Capital, Andreessen Horowitz, Coatue Management, D1 Capital Partners, Fidelity Management, Founders Fund, Sequoia Capital, Tiger Global, and Thrive Capital. Early investors reportedly received smaller allocations as OpenAI prioritized new strategic backers.
TechCrunch contacted OpenAI for comment.