Sam Altman’s OpenAI has raised $40 billion in a new funding round led by investment giant SoftBank as it looks to stave off rivals like Elon Musk’s xAI and China-based DeepSeek. The ChatGPT maker secured a $300 billion post-money valuation with the round,

OpenAI secures record-breaking $40 billion funding round led by SoftBank, reaching a $300 billion valuation as ChatGPT grows to 500 million weekly users.

OpenAI said on Monday it would raise up to $40 billion in a new funding round led by SoftBank Group at a $300 billion valuation to advance AI research, expand computational infrastructure and enhance its tools.