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While Wall Street has been focused on how tech giants are spending on artificial intelligence, the most prominent name in the field, OpenAI, has been racking up big money as well. DealBook is first to report on the huge numbers, and what the round means for the company behind ChatGPT in the increasingly heated A.I. race. OpenAI has raised $8.3 billion at a $300 billion valuation, months ahead of schedule, as part of its plan to secure $40 billion in funding this year, DealBook has learned. Back in March, OpenAI announced its ambitious funding plans, with SoftBank committing to provide $30 billion by year-end. The start-up raised $2.5 billion from venture capital firms that same month, with plans to raise an additional $7.5 billion by the end of the year. Instead, the fund-raising came much sooner — and over target. A wave of new investors participated in the round, including the private equity giants Blackstone and TPG, and the mutual fund manager T. Rowe Price. Other participants include Fidelity Management, Founders Fund, Sequoia Capital, Andreessen Horowitz, Coatue Management, Altimeter Capital, D1 Capital Partners, Tiger Global and Thrive Capital.
Full exclusive : OpenAI raised $8.3B led by Dragoneer at a $300B valuation, months ahead of schedule and part of a $40B goal for 2025; 5M business users pay for ChatGPT