OpenAI to raise $40 billion in SoftBank-led new funding

(Reuters) – OpenAI said on Monday it would raise $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 AI tools.

Microsoft-backed OpenAI said it looks to deliver increasingly powerful tools for the 500 million people who use ChatGPT every week.

(Reporting by Jaspreet Singh in Bengaluru; Editing by Maju Samuel)