Funding & Business
OpenAI said to be in talks to raise $40B at a $340B valuation
OpenAI may have billions of dollars in the bank. But it’s gearing up to raise billions more, according to a report from The Wall Street Journal.
Per The WSJ, OpenAI is in talks to secure up to $40 billion in a funding round that would value the startup at $340 billion. SoftBank would lead the round, pouring between $15 billion to $25 billion into the ChatGPT maker, according to The WSJ.
Should OpenAI successfully close the round, it’d be a remarkable feat for the startup, which was valued at $157 billion in October. The WSJ says that OpenAI would use the capital to fund its money-losing business operations and fulfill its commitment to Stargate, its ambitious project to build AI data centers across the U.S.
In 2024, OpenAI reportedly lost around $5 billion against revenues of $3.7 billion. The losses could mount. In conjunction with partners including SoftBank, OpenAI aims to contribute billions of dollars to Stargate to start.
Next month’s vote on output will tell whether the policy pivot is seasonal or structural.
Elon Musk says he’s formed a new political party called the America Party to “give you back your freedom.” President Donald Trump calls it “ridiculous.” Bloomberg’s Craig Trudell reports. (Source: Bloomberg)
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Since global oil inventories are still low, there is little risk that OPEC’s decision to increase production will lead to a supply shock says Nadia Martin Wiggen, Director at Svelland Capital. Nadia spoke to Francine Lacqua on ‘Bloomberg: The Pulse’. (Source: Bloomberg)
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