OpenAI set to raise $10 billion from MGX, Coatue and Thrive, source says

OpenAI is close to securing about $10 ​billion in fresh funding from ‌investors, boosting its valuation to $850 billion, ​including the money ⁠raised, a person familiar with the matter said, confirming an earlier ‌report in Bloomberg News.

Investors include Abu Dhabi’s ‌MGX, Coatue and Thrive Capital, ‌the ⁠person said. Altimeter ⁠Capital is also expected to participate in the round, the person said.

The deal ‌is expected to be finalised by next week, the person familiar with the matter ‌said.

The additional funds ​would bring the total raise from OpenAI’s latest funding ⁠round to about $120 billion, underscoring strong investor demand for ‌AI companies.

The discussions are ongoing and the final size of the investment could change.

The ChatGPT maker said last month it ‌was raising $110 billion from backers including ​Amazon.com, Nvidia and SoftBank Group, as it ramps up ⁠spending on computing infrastructure and talent.

Coatue, MGX, Thrive and Altimeter did not ‌immediately respond to Reuters’ requests for comment.