OpenAI has raised $40 billion in a landmark funding round, valuing the ChatGPT developer at $300 billion, the largest capital raise ever for a startup.
The deal is backed by Japan’s SoftBank, which is initially investing $10 billion, with a further $30 billion planned by the end of 2025 if performance targets are met.
OpenAI said the funding would support its drive toward artificial general intelligence (AGI), emphasising the need for vast computing power.
OpenAI also revealed plans to release a more open AI model, signalling a shift from its previous closed approach amid rising competition from rivals like Meta and DeepSeek. C
Chief executive Sam Altman said the move was long considered but delayed due to other priorities. Open-source models are increasingly favoured by companies demanding more control and transparency.
In a short press statement, the AI giant said: "We’re excited to be working in partnership with SoftBank Group - few companies understand how to scale transformative technology like they do.
"Their support will help us continue building AI systems that drive scientific discovery, enable personalized education, enhance human creativity, and pave the way toward AGI that benefits all of humanity."