After capturing attention with massive, multi-billion dollar investments, ChatGPT developer OpenAI has completed its funding round.

On October 2, OpenAI announced on its website that it has raised $6.6 billion in new funding, reaching a valuation of $157 billion. This amount slightly exceeds the previously anticipated $6.5 billion, and its valuation surpasses earlier estimates of $150 billion.

OpenAI stated, "We are advancing our mission to ensure AI benefits all of humanity," and added that "this new funding will accelerate our mission’s progress."

Furthermore, OpenAI revealed, "Over 250 million people globally use ChatGPT weekly to enhance their work, creativity, and learning capabilities. Companies across various industries are improving productivity and operations, while developers utilize our platform to build next-generation applications." They emphasized, "This is just the beginning, and the new funding will double down on leadership in cutting-edge AI research, expand computational capacity, and continue creating tools to help people tackle challenging problems."

OpenAI aims to make advanced intelligence broadly accessible as a resource and expressed gratitude to its investors, highlighting its commitment to building an AI-based ecosystem and future that benefits all through partnerships with developers, the broader community, and government allies.

OpenAI did not disclose the specific investors in this round. However, Thrive Capital led the funding, with notable participation from long-time investors such as Microsoft and NVIDIA, UAE investment firm MGX, Japan’s SoftBank Vision Fund, and venture capital firms like Khosla Ventures and Fidelity. Apple, originally expected to invest, was not included.

Reports indicate that Japan's SoftBank Vision Fund, led by Chairman Masayoshi Son, invested $500 million in OpenAI, marking the fund’s first investment in a company led by CEO Sam Altman.

According to Reuters, the funding was structured as convertible bonds, contingent upon OpenAI’s transition from a non-profit-controlled model to a for-profit structure, removing limits on investor returns. Investors may retrieve their funds or renegotiate the valuation within two years if these conditions are not met.

With the successful completion of this funding round, OpenAI’s valuation has seen a significant rise—now more than five times what it was after Microsoft’s initial investment in early 2022 ($29 billion). As a result, OpenAI now holds a solid position among the three most valuable private companies globally, alongside Chinese video platform TikTok's parent company ByteDance and Elon Musk’s aerospace firm SpaceX. [Yonhap News]