OpenAI has secured $8.3 billion in funding, exceeding its initial target and valuing the company at $300 billion. This investment round, part of a larger $40 billion fundraising strategy, attracted both new and existing investors. Dragoneer Investment Group spearheaded the round with a $2.8 billion commitment.
The funding round saw participation from private equity firms like Blackstone and TPG, alongside mutual fund manager T. Rowe Price. Other investors included Fidelity Management, Founders Fund, Sequoia Capital, Andreessen Horowitz, Coatue Management, Altimeter Capital, D1 Capital Partners, Tiger Global, and Thrive Capital. The high demand resulted in the round being oversubscribed, leading to reduced allocations for some early investors.
OpenAI's business metrics demonstrate substantial growth, with annual recurring revenue reaching $13 billion and projected to surpass $20 billion by the end of 2025. The number of paid business users of ChatGPT has increased to five million. This funding will support OpenAI's AI infrastructure initiatives, including data centres and partnerships.
