OpenAI gets $122B to 'just build things' as the world blows them up

Opinion OpenAI has secured an additional $122 billion in capital from a diverse group of investors and reached a nominal $852 billion valuation, the highest of any pre-IPO tech company.

The poster child of the LLM era argues it needs the money to help the world "just build things," it said in an online missive.

Backers include its regular partners Amazon, Nvidia, SoftBank, and Microsoft, as well as an all-star cast of venture capitalists.

Curiously for a company that is yet to go public, it is also getting public money. Through "bank channels," it is raising more than $3 billion from individual investors and will be included in "several exchange-traded funds managed by ARK Invest, further broadening ownership and giving more people the opportunity to share in the upside economics of OpenAI and the AI era."

OpenAI's revolving credit has grown to around $4.7 billion supported by a ...