OpenAI (OPAI.PVT) on Tuesday announced it closed its latest funding round, raising $122 billion in commitments at a valuation of $852 billion. That’s more than the $110 billion the company said it raised in February when it was valued at $730 billion.
In a statement, OpenAI said it is now generating $2 billion in revenue per month, up from $1 billion per quarter in 2024, and that, at its current stage, its revenue is growing four times faster than the likes of Google parent Alphabet (GOOGL, GOOG) and Meta (META) did.
The latest funding round comes ahead of an anticipated IPO this year and was led by heavyweights including Amazon (AMZN), which committed $50 billion in February, and Nvidia (NVDA) and SoftBank (9984.T), which each committed $30 billion. OpenAI said Microsoft (MSFT) also participated.
Additional investors included Altimeter, Appaloosa Management, ARK Invest, Sequoia Capital, and Thrive Capital, among others.
OpenAI also said it allowed individual investors to join the raise via banking channels, bringing in more than $3 billion.
The company further said that it will be included in exchange-traded funds managed by Cathie Wood’s ARK Invest, providing greater access to a stake in the AI giant.
The cash will help OpenAI pay for its enormous data-center buildout. The scale of the effort, which CEO Sam Altman previously pegged at north of $1 trillion, has spooked AI investors.
He’s since brought the amount down to $600 billion in spending by 2030, according to CNBC, but the questions about how companies like OpenAI will recoup their massive spending persist.
More recently, OpenAI has begun cutting back on some planned product expansions, such as its “erotic mode,” and killed its Sora app, as it looks to gain ground in the enterprise.
In its announcement, the company said it is now developing a “unified superapp” that combines ChatGPT, its Codex coding tool, browsing, and agentic capabilities.
“This is not just product simplification. It is a distribution and deployment strategy. By unifying our surfaces, we can translate advances in model capability directly into user adoption and engagement,” the company said.
“Our consumer scale becomes the front door for enterprise usage, as familiarity in daily life drives adoption at work. At the same time, a single product surface allows us to improve faster, ship more coherently, and capture more of the value created by agentic workflows.”
OpenAI isn’t the only AI juggernaut that could go public this year. Rival Anthropic (ANTH.PVT) is rumored to be exploring the option, and SpaceX (SPAX.PVT), which owns xAI, is expected to list, as well.
