OpenAI completes $40 billion financing, setting a record for the largest financing for a private technology company

According to CNBC, OpenAI announced on Monday that it had completed $40 billion in financing, setting a record for the highest financing for private technology companies. After this round of financing, the company's valuation reached $300 billion (including newly injected capital). Japan's SoftBank became the lead investor in this round with $30 billion, and existing investors such as Microsoft, Coatue, Altimeter and Thrive jointly invested $10 billion. This round of financing has made OpenAI's valuation jump to the third place among unlisted companies in the world, second only to SpaceX (US$350 billion) and on par with TikTok's parent company ByteDance.

OpenAI said in its official blog that the new funds will be used to "break through the boundaries of AI research" and expand computing infrastructure. People familiar with the matter told CNBC that about $18 billion of this will be invested in the "Stargate" project, a joint venture between OpenAI, SoftBank and Oracle, announced by former US President Trump in January 2025. The first $10 billion in funds will be in place immediately, and the remaining $30 billion is expected to be completed by the end of 2025. But the financing agreement comes with a special clause: if OpenAI fails to complete the restructuring of its for-profit structure by December 31, 2025, the financing amount may be reduced by up to $10 billion. This clause has increased the pressure on the company to transform, and the plan needs to be approved by Microsoft and the California Attorney General.