OpenAI Pursues $11.5 Billion Funding Round... Participants Also Emerging

OpenAI, the developer of ChatGPT, is reportedly seeking to secure over $10 billion in total funding, including loans in addition to capital raising.

Sam Altman, CEO of OpenAI.
Photo by Yonhap News

On the 13th (local time), Bloomberg News cited sources reporting that OpenAI is considering a $5 billion loan from banks alongside its investment fundraising.

OpenAI is currently known to be raising approximately $6.5 billion in funding with a market valuation of about $150 billion (201 trillion KRW). Including the $5 billion loan, this would amount to securing $11.5 billion (15.318 trillion KRW) in total.

The $5 billion loan is more than three times OpenAI's annual revenue of $1.6 billion last year and about 1.5 times the $3.4 billion revenue target for this year.

However, specific details about which banks OpenAI is in contact with have not been disclosed.

The participants in OpenAI's $6.5 billion funding round are also coming into focus. Led by venture capital firm Strive Capital, this funding round includes Microsoft (MS), which has invested $13 billion since partnering with OpenAI in 2019, and Apple and Nvidia are also reportedly seeking to participate.

Additionally, Tiger Global, a major player in the startup industry, is reportedly considering participation, according to The Information. Early OpenAI investors such as venture capital firm Khosla Ventures and Sequoia Capital, which manages the world's largest venture capital funds, are also expected to join this funding round.

Furthermore, Strive Capital, leading this funding round, is said to be considering a $1 billion (1.3 trillion KRW) investment in OpenAI. This $1 billion accounts for 15.3% of the $6.5 billion OpenAI is pursuing. Earlier, Bloomberg reported that Nvidia was discussing a $100 million investment. However, the investment amounts from MS, Apple, and other venture capital firms have not been disclosed.

According to major foreign media, the $6.5 billion funding will be conducted in the form of convertible bonds, which can be converted into shares at a certain point. Although OpenAI is reported to have been valued at $150 billion in this funding round, it has not yet been finalized.

This content was produced with the assistance of AI translation services.