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Generative AI trailblazer and ChatGPT maker OpenAI is looking to raise $6.5 billion in an investment round with a company valuation of $150bn, according to sources “familiar with the situation”.
As reported by Bloomberg, the funding round is set to be led by Thrive Capital, with its largest investor Microsoft also taking part. Apple and Nvidia are also thought to be interested in joining.
OpenAI is also said to be in discussions to raise $5bn in debt through a revolving credit facility.
Terms of both of these deals could potentially change, the report noted.
Investors eye structural changes
Reuters also reported the company is looking to raise $6.5bn at a $150bn valuation. Its sources “with direct knowledge of the matter” said the new funding round is expected to come in the form of convertible notes.
It claimed the funding round is set to finalise in the next two weeks, adding Khosla Ventures and Sequoia Capital could participate.
The report said, however, that the high valuation of OpenAI is contingent on changes to the firm’s corporate structure and the removal of a profit cap for investors.
A spokesperson for the company said that “nonprofit is core to our mission and will continue to exist”, in response to a question about whether it would consider changes to its business.
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