OpenAI is close to finalizing the first phase of a new funding round that is slated to raise over $100 billion, Bloomberg reported on Thursday, citing people familiar with the matter. The latest funding round could value the ChatGPT maker at more than $850 billion, the Bloomberg report said. OpenAI’s pre-funding valuation will remain at around $730 billion, the report. The record-breaking capital raise comes as the company prepares to spend trillions on building out its AI infrastructure ambitions in the next decade. Earlier reports had listed several Wall Street majors, including Microsoft Corporation, NVIDIA Corporation, and Amazon.com Inc, as participants in the funding round. The capital injection is also expected to help OpenAI weather the massive costs of training and developing its AI models– costs which have seen the company remain squarely in loss-making territory in recent years.

Full report : OpenAI Is Finalizing First Commitments for $100 Billion Mega Round.