OpenAI is close to securing a US$40 billion funding round led by SoftBank Group, with Magnetar Capital, Coatue Management, Founders Fund, and Altimetre Capital Management expected to invest, accordin
g to sources familiar with the matter.
As part of the deal, SoftBank will invest US$7.5 billion initially, with another US$2.5 billion coming from a group of investors. A source said a second tranche of US$30 billion is expected later this year, with US$22.5 billion from SoftBank and US$7.5 billion from a syndicate. According to Bloomberg, OpenAI reported US$3.7 billion in revenue last year and expects to more than triple that to US$12.7 billion this year. Revenue is expected to more than double again next year, reaching US$29.4 billion.A source said OpenAI is facing high costs from chips, data centres, and specialised talent needed to advance its AI technology. The company does not expect to be cash-flow positive until 2029, when it projects revenue to exceed US$125 billion.
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