OpenAI raises USD $122 billion in record AI funding
OpenAI has raised USD $122 billion in committed capital, valuing the company at USD $852 billion after the investment.
The round was anchored by Amazon, Nvidia and SoftBank, with Microsoft continuing to participate as an existing backer. SoftBank co-led the financing with Andreessen Horowitz, D. E. Shaw Ventures, MGX, TPG and accounts advised by T. Rowe Price Associates.
Other investors included Altimeter, Appaloosa, ARK Invest, funds affiliated with BlackRock, Blackstone, Coatue, D1 Capital Partners, Dragoneer, Fidelity Management & Research Company, Goanna Capital, Insight Partners, The Paragon Group, Sands Capital, Sequoia Capital, Sound Ventures, Temasek, Thrive Capital, UC Investments and Winslow Capital.
OpenAI also raised more than USD $3 billion from individual investors through bank channels. Its shares will also be included in several exchange-traded funds managed by ARK Invest.
It has expanded its revolving credit facility to about USD $4.7 billion. The facility was undrawn at close and is backed by a syndicate including JPMorgan Chase, Citi, Goldman Sachs, Morgan Stanley, Wells Fargo, Mizuho, Royal Bank of Canada, SMBC, UBS, HSBC and Santander.
Revenue growth
The fundraising comes as OpenAI reports sharp revenue growth. It reached USD $1 billion in annual revenue within a year of launching ChatGPT, was generating USD $1 billion per quarter by the end of 2024, and is now bringing in USD $2 billion a month.
Enterprise now accounts for more than 40% of revenue and is on track to match consumer revenue by the end of 2026. Demand is shifting from access to basic models toward more complex systems used in workplace tasks.
ChatGPT remains the group's main consumer product, with more than 900 million weekly active users and more than 50 million subscribers.
Search usage on the platform has nearly tripled over the past year, while an advertising pilot reached more than USD $100 million in annual recurring revenue in less than six weeks. Codex, its coding product, now serves more than 2 million weekly users.
Infrastructure push
A large share of the new capital is tied to the cost of computing infrastructure. Access to compute remains central to model training, product delivery and broader deployment.
Nvidia remains the foundation of OpenAI's infrastructure, with its training fleet and most inference operations still running on Nvidia graphics processing units. The latest financing is expected to deepen that relationship.
At the same time, OpenAI has broadened its infrastructure strategy over the past 15 months beyond a small group of core providers. Its cloud partners now include Microsoft, Oracle, AWS, CoreWeave and Google Cloud, while its silicon partners include Nvidia, AMD, AWS Trainium and Cerebras, alongside an in-house chip project with Broadcom.
Data centre partnerships now also include Oracle, SBE and SoftBank. OpenAI wants a broader portfolio across cloud providers, chip platforms and system design as AI demand grows and diversifies.
Product plans
Alongside the financing, OpenAI outlined a broader product strategy centred on ChatGPT, its API business, enterprise tools and Codex. It recently launched GPT-5.4, expanded Codex into a central coding agent and added features across memory, search, personalisation and multimodal interaction.
It is also moving further into health, scientific discovery and commerce. The company described plans for a unified AI "superapp" that would bring together ChatGPT, Codex, browsing and other agent-based tools in a single interface.
OpenAI argues that a unified product could help turn model improvements into broader usage and connect consumer familiarity with workplace adoption, placing its large user base at the centre of its enterprise software push.
The scale of the financing underlines investor appetite for companies at the centre of the AI boom, even as the cost of chips, data centres and model development rises. OpenAI is now among the world's most highly valued private technology companies, and the latest round gives it one of the sector's largest capital cushions.