AIRLINK 167.01 Decreased By ▼ -1.50 (-0.89%)
BOP 9.75 Decreased By ▼ -0.04 (-0.41%)
CNERGY 7.78 Decreased By ▼ -0.21 (-2.63%)
CPHL 88.70 Increased By ▲ 0.73 (0.83%)
FCCL 44.99 Increased By ▲ 1.06 (2.41%)
FFL 15.25 Decreased By ▼ -0.27 (-1.74%)
FLYNG 28.10 Increased By ▲ 0.16 (0.57%)
HUBC 140.20 Increased By ▲ 2.23 (1.62%)
HUMNL 12.56 Increased By ▲ 0.19 (1.54%)
KEL 4.22 Decreased By ▼ -0.02 (-0.47%)
KOSM 5.50 Decreased By ▼ -0.06 (-1.08%)
MLCF 67.40 Increased By ▲ 2.61 (4.03%)
OGDC 213.50 Increased By ▲ 1.81 (0.86%)
PACE 5.54 Decreased By ▼ -0.19 (-3.32%)
PAEL 44.45 Decreased By ▼ -0.57 (-1.27%)
PIAHCLA 16.85 Decreased By ▼ -0.24 (-1.4%)
PIBTL 9.36 Increased By ▲ 0.13 (1.41%)
POWER 14.31 Decreased By ▼ -0.14 (-0.97%)
PPL 163.99 Decreased By ▼ -2.41 (-1.45%)
PRL 29.29 Decreased By ▼ -1.36 (-4.44%)
PTC 21.51 Increased By ▲ 0.31 (1.46%)
SEARL 88.51 Decreased By ▼ -1.96 (-2.17%)
SSGC 40.50 Decreased By ▼ -0.55 (-1.34%)
SYM 14.79 Increased By ▲ 0.31 (2.14%)
TELE 7.17 Decreased By ▼ -0.22 (-2.98%)
TPLP 9.19 Decreased By ▼ -0.18 (-1.92%)
TRG 64.35 Decreased By ▼ -0.65 (-1%)
WAVESAPP 9.42 Decreased By ▼ -0.09 (-0.95%)
WTL 1.29 Decreased By ▼ -0.02 (-1.53%)
YOUW 3.65 Decreased By ▼ -0.07 (-1.88%)
AIRLINK 167.01 Decreased By ▼ -1.50 (-0.89%)
BOP 9.75 Decreased By ▼ -0.04 (-0.41%)
CNERGY 7.78 Decreased By ▼ -0.21 (-2.63%)
CPHL 88.70 Increased By ▲ 0.73 (0.83%)
FCCL 44.99 Increased By ▲ 1.06 (2.41%)
FFL 15.25 Decreased By ▼ -0.27 (-1.74%)
FLYNG 28.10 Increased By ▲ 0.16 (0.57%)
HUBC 140.20 Increased By ▲ 2.23 (1.62%)
HUMNL 12.56 Increased By ▲ 0.19 (1.54%)
KEL 4.22 Decreased By ▼ -0.02 (-0.47%)
KOSM 5.50 Decreased By ▼ -0.06 (-1.08%)
MLCF 67.40 Increased By ▲ 2.61 (4.03%)
OGDC 213.50 Increased By ▲ 1.81 (0.86%)
PACE 5.54 Decreased By ▼ -0.19 (-3.32%)
PAEL 44.45 Decreased By ▼ -0.57 (-1.27%)
PIAHCLA 16.85 Decreased By ▼ -0.24 (-1.4%)
PIBTL 9.36 Increased By ▲ 0.13 (1.41%)
POWER 14.31 Decreased By ▼ -0.14 (-0.97%)
PPL 163.99 Decreased By ▼ -2.41 (-1.45%)
PRL 29.29 Decreased By ▼ -1.36 (-4.44%)
PTC 21.51 Increased By ▲ 0.31 (1.46%)
SEARL 88.51 Decreased By ▼ -1.96 (-2.17%)
SSGC 40.50 Decreased By ▼ -0.55 (-1.34%)
SYM 14.79 Increased By ▲ 0.31 (2.14%)
TELE 7.17 Decreased By ▼ -0.22 (-2.98%)
TPLP 9.19 Decreased By ▼ -0.18 (-1.92%)
TRG 64.35 Decreased By ▼ -0.65 (-1%)
WAVESAPP 9.42 Decreased By ▼ -0.09 (-0.95%)
WTL 1.29 Decreased By ▼ -0.02 (-1.53%)
YOUW 3.65 Decreased By ▼ -0.07 (-1.88%)
BR100 12,327 Increased By 71.3 (0.58%)
BR30 36,803 Increased By 80.1 (0.22%)
KSE100 115,469 Increased By 449.5 (0.39%)
KSE30 35,563 Increased By 234.3 (0.66%)

OpenAI said on Monday it would raise $40 billion in a new funding round led by SoftBank Group at a $300 billion valuation to advance AI research, expand computational infrastructure and enhance its tools.

SoftBank would provide 75% of the funding, according to a person familiar with the matter, with the remainder coming from Microsoft, Coatue Management, Altimeter Capital and Thrive Capital.

OpenAI said it looks to deliver increasingly powerful tools for the 500 million people who use ChatGPT every week.

Investor enthusiasm for the artificial intelligence sector has surged significantly in recent years, driven by widespread adoption of chatbots and the emergence of sophisticated AI agents.

Enterprises have integrated AI solutions to streamline their operations and enhance customer experiences, while venture capital firms compete to back promising AI startups.

San Francisco-based OpenAI had closed a $6.6 billion funding round in October, which valued the company at $157 billion. The new funding round would nearly double the valuation of the AI startup.

“OpenAI has very ambitious plans on many fronts and needs a lot of capital to achieve these goals,” D.A. Davidson & Co analyst Gil Luria said.

Musk-led group makes $97.4 billion bid for control of OpenAI

“The list of investors wanting to support that scope has shrunk and may be largely limited to SoftBank, which itself may not have the necessary capital.”

OpenAI is partnering with SoftBank and Oracle to establish a network of data centers under the $500-billion Stargate project, aimed at powering artificial intelligence workloads in the United States.

Microsoft-backed OpenAI also plans to revamp its structure, saying it would create a public benefit corporation to attract more investment and resources while balancing shareholder interests with public benefits.

OpenAI must transition to a for-profit company by the end of the year to secure the full $40 billion funding led by SoftBank, a person familiar with the matter told Reuters on Friday.

With the latest funding, OpenAI will join the ranks of the most valuable private companies, such as SpaceX, China’s ByteDance and Stripe.

Comments

200 characters