OpenAI has raised $6.6 billion from investors, potentially valuing the company at $157 billion, solidifying its status as one of the most valuable private companies globally.
Returning investors include Thrive Capital, Khosla Ventures, and Microsoft, along with new participation from Nvidia. Other notable investors are Altimeter Capital, Fidelity, SoftBank, and Abu Dhabi's MGX.
This funding coincides with significant executive changes at OpenAI, including the recent departure of Chief Technology Officer Mira Murati. CFO Sarah Friar informed employees that a liquidity option for shares will be available following the funding, although specifics are yet to be announced.
Thrive Capital has committed approximately $1.2 billion and negotiated an option for an additional $1 billion next year, contingent on meeting revenue goals. Apple, which was in discussions to invest, ultimately did not participate.
The investment is structured as convertible notes, with equity conversion dependent on a successful transition to a for-profit model, which would remove the current non-profit board's control and cap on investor returns. OpenAI continues to pursue the development of artificial general intelligence (AGI) as it ramps up commercialization efforts.