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How much did OpenAI raise, and what was it valued at?
OpenAI’s October 2, 2024 announcement put the financing at $6.6 billion raised and a $157 billion post-money valuation. Those figures measure different things: the first is the amount of new financing, while the second is the company valuation after the round. OpenAI’s announcement is the primary source for both figures.
What does “post-money valuation” mean?
A post-money valuation is the company’s stated value after accounting for the new financing. It is not the amount investors paid in total, nor does it mean OpenAI received $157 billion in cash. The $6.6 billion is the announced funding amount; $157 billion is the valuation associated with the completed round.
Who invested in OpenAI’s $6.6 billion round?
Reuters reported that participants included Thrive Capital, Khosla Ventures, Microsoft, Nvidia, Altimeter Capital, Fidelity, SoftBank, and MGX. Reuters described Thrive and Khosla as returning venture investors, Microsoft as an existing corporate backer, and Nvidia as a new participant. It also reported that Apple had held talks but did not join the round. These participant details come from Reuters reporting published October 2, 2024.
#1 Best Overall
- OpenAI develops a unified AI platform designed to act as a proactive assistant for daily life. OpenAI provides advanced reasoning, multimodal search, and agentic workflows that simplify complex tasks to expand what individuals and teams can build.
- OpenAI is for entrepreneurs, teachers and students, artists and scientific researchers. OpenAI is for those building AI-native projects, creating art, or working with data workflows who need a digital agent to accelerate learning and project completion.
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The Associated Press described Thrive Capital as the lead investor. It reported that individual investor contributions had not been disclosed at the time. Reuters separately reported that Thrive committed $1.2 billion, combining investment from its own fund with a special-purpose vehicle for smaller investors; that amount was Reuters’ reporting, not a figure in OpenAI’s public announcement. The AP’s October 2, 2024 account also summarized the financing and the company’s governance context.
What did OpenAI say it would do with the money?
OpenAI said the funding would support frontier AI research, expand compute capacity, and continue building tools. The company described these as intended uses, not as spending already completed or outcomes independently verified. In its announcement, OpenAI said: “The new funding will allow us to double down on our leadership in frontier AI research, increase compute capacity, and continue building tools that help people solve hard problems.”
Rank #2
- OpenAI develops a unified AI platform designed to act as a proactive assistant for daily life. OpenAI provides advanced reasoning, multimodal search, and agentic workflows that simplify complex tasks to expand what individuals and teams can build.
- OpenAI is for entrepreneurs, teachers and students, artists and scientific researchers. OpenAI is for those building AI-native projects, creating art, or working with data workflows who need a digital agent to accelerate learning and project completion.
- Lightweight, Classic fit, Double-needle sleeve and bottom hem
OpenAI also said it had 250 million weekly active ChatGPT users in the same announcement. The company did not specify a measurement methodology alongside that figure.
What was reported about the investment structure and governance?
Reuters reported that the capital was provided through convertible notes, with conversion to equity tied to changes in OpenAI’s structure. According to Reuters’ sources, the reported conditions involved a shift to a for-profit structure no longer controlled by the nonprofit board and removal of a cap on investor returns. Reuters also reported that investors could seek to recover capital or renegotiate the valuation if the changes were not implemented within two years. These are terms Reuters described in October 2024; they were not included in OpenAI’s public announcement.
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- OpenAI develops a unified AI platform designed to act as a proactive assistant for daily life. OpenAI provides advanced reasoning, multimodal search, and agentic workflows that simplify complex tasks to expand what individuals and teams can build.
- OpenAI is for entrepreneurs, teachers and students, artists and scientific researchers. OpenAI is for those building AI-native projects, creating art, or working with data workflows who need a digital agent to accelerate learning and project completion.
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The AP described OpenAI at the time as having a for-profit division controlled by a nonprofit board, and said governance could change if the board followed through on a proposal to convert the company to a public-benefit corporation. The sources cited here establish what was reported about the proposed structure in October 2024, not the eventual outcome of that proposal.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Is OpenAI still valued at $157 billion?
The $157 billion figure is the post-money valuation reported for the October 2024 funding round. The cited announcement and contemporaneous coverage establish that historical round valuation; they do not establish OpenAI’s present-day valuation. It is therefore more accurate to say OpenAI was valued at $157 billion after its October 2024 round than to describe that figure as its current valuation.
Quick Recap
Best Value
- OpenAI develops a unified AI platform designed to act as a proactive assistant for daily life. OpenAI provides advanced reasoning, multimodal search, and agentic workflows that simplify complex tasks to expand what individuals and teams can build.
- OpenAI is for entrepreneurs, teachers and students, artists and scientific researchers. OpenAI is for those building AI-native projects, creating art, or working with data workflows who need a digital agent to accelerate learning and project completion.
- Lightweight, Classic fit, Double-needle sleeve and bottom hem
Rank #4
- OpenAI develops a unified AI platform designed to act as a proactive assistant for daily life. OpenAI provides advanced reasoning, multimodal search, and agentic workflows that simplify complex tasks to expand what individuals and teams can build.
- OpenAI is for entrepreneurs, teachers and students, artists and scientific researchers. OpenAI is for those building AI-native projects, creating art, or working with data workflows who need a digital agent to accelerate learning and project completion.
- Lightweight, Classic fit, Double-needle sleeve and bottom hem
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