• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

OpenAI Close to Finalizing $40 Billion SoftBank-Led Funding

5 months ago
in Business, Economy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
38
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

RelatedPosts

The Global Push for a Just Transition in Energy Jobs

Why the IEA Reinstated Its “Business as Usual” Scenario

GRA Targets Offshore Income in Expanded Tax Compliance Drive

OpenAI Close to Finalizing $40 Billion SoftBank-Led Funding

OpenAI is close to finalizing a $40 billion funding round led by SoftBank Group Corp. — with investors including Magnetar Capital, Coatue Management, Founders Fund and Altimeter Capital Management in talks to participate, according to people familiar with the matter.

Magnetar Capital — an Evanston, Illinois-based hedge fund — could contribute up to $1 billion, according to multiple people, all of whom asked not to be identified because the information is private.

The artificial intelligence developer’s funding round would be the largest of all time, according to data compiled by research firm PitchBook. The deal is set to value the company at $300 billion including dollars raised — almost double the ChatGPT maker’s previous valuation of $157 billion from when it raised money in October.

As part of the deal, SoftBank will invest an initial $7.5 billion in the company, along with $2.5 billion from an investor syndicate, said one of the people familiar with the discussions. There will be a second tranche of $30 billion later this year that will include $22.5 billion from SoftBank, and $7.5 billion from a syndicate, this person said.

Its shares slid as much as 4.7% in Tokyo. The company’s credit default swaps widened, in part because of concerns about the impact of such a large outlay on its finances.

SoftBank declined to comment. The Japanese conglomerate has separately committed billions to the Stargate Project, the Abilene, Texas-based joint venture with partners including OpenAI, Oracle Corp. and MGX.

Representatives for OpenAI, Magnetar and Founders Fund declined to comment on the funding round. Coatue and Altimeter didn’t respond to requests for comment.

The funding round underscores investors’ enthusiasm for a company that’s growing at an extraordinary pace alongside the adoption of AI around the world.

OpenAI expects to more than triple its revenue this year to $12.7 billion, fueled by the strength of its paid artificial intelligence software, Bloomberg News reported earlier.

The San Francisco-based company generated $3.7 billion in revenue last year, according to a person familiar with the matter. OpenAI expects sales to continue growing at a fast clip, more than doubling next year to $29.4 billion, the person said on condition of anonymity to discuss internal communications.

Still, OpenAI is also confronting significant costs from the chips, data centers and talent needed to develop cutting-edge AI. It doesn’t expect to be cash-flow positive until 2029, the person said, a year when it projects revenue will top $125 billion.

Source: bloomberg
Via: norvanreports
Tags: OpenAIOpenAI Close to Finalizing $40 Billion SoftBank-Led FundingSoftBank-Led Funding

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

Gold Boom Drives Rising Costs for Australian Producers

La Liga: Barcelona Stages Late Comeback Against Levante as Atletico Madrid Drops Points Again

Premier League: Spurs Stun Man City at Etihad; Arsenal Dominates Leeds to go Top

CHAN 2024: Senegal, Sudan Complete Semifinal Lineup

From Promise to Peril: How Exam Fraud is Eroding Ghana’s Educational Soul

The 10 Fastest-Growing Trading Nations in Africa

Trending

Features

The Global Push for a Just Transition in Energy Jobs

August 24, 2025

The Global Push for a Just Transition in Energy Jobs For years, energy workers from the fossil...

Why the IEA Reinstated Its “Business as Usual” Scenario

August 24, 2025

GRA Targets Offshore Income in Expanded Tax Compliance Drive

August 24, 2025

Gold Boom Drives Rising Costs for Australian Producers

August 24, 2025

La Liga: Barcelona Stages Late Comeback Against Levante as Atletico Madrid Drops Points Again

August 24, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.