OpenAI completes $110bn funding round

Amazon put in $50 billion and Nvidia and SoftBank put up $30 billion each.

The funding round values OpenAI at $730 billion.

“These partnerships expand our global reach, deepen our infrastructure and strengthen our balance sheet so we can bring frontier AI to more people, more businesses and more communities worldwide,” says OpenAi.

“We are entering a new phase where frontier AI moves from research into daily use at global scale,” says the company, “leadership will be defined by who can scale infrastructure fast enough to meet demand, and turn that capacity into products people rely on.”

OpenAI also announced a partnership with Amazon to collaborate on projects including developing applications for Amazon’s clients.

OpenAI already has a $38 billion contract with Amazon Web Services, Amazon’s cloud service arm, and will increase the size of the contract by $100 billion over the next eight years.