OpenAI, not yet public, raises $3B from retail investors in monster $122B fund raise

OpenAI has closed a deal to raise $122 billion at an $852 billion valuation, its largest funding round to date as the company is expected to hit the public markets this year. The round will add to OpenAI’s war chest as it spends enormous amounts of money on AI chips, data center buildouts, and hiring top talent. SoftBank co-led the round alongside Andreessen Horowitz, D.E. Shaw Ventures, MGX, TPG, and T. Rowe Price Associates, with participation from Amazon, Nvidia, and Microsoft. About $3 billi