OpenAI to raise $40 billion in SoftBank-led new funding

FILE PHOTO: OpenAI CEO Sam Altman attends an event to pitch AI for businesses in Tokyo, Japan February 3, 2025. REUTERS/Kim Kyung-Hoon/File Photo

(Reuters) - OpenAI said on Monday it would raise $40 billion in a new funding round led by SoftBank Group at a $300 billion valuation to advance AI research, expand computational infrastructure, and enhance its AI tools.

Microsoft-backed OpenAI said it looks to deliver increasingly powerful tools for the 500 million people who use ChatGPT every week.

(Reporting by Jaspreet Singh in Bengaluru; Editing by Maju Samuel)