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OpenAI to raise $40 billion to boost AI efforts

News Snapshot:

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 tools. SoftBank would provide 75% of the funding, according to a person familiar with the matter, with the remainder coming from Microsoft, Coatue Management, Altimeter Capital and Thrive Capital. OpenAI said it looks to deliver increasingly powerful tools for the 500 million people who use ChatGPT every week. Story continues below this ad Investor enthusiasm for the artificial intelligence sector has surged significantly in recent years, driven…

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