OpenAI, the Microsoft-backed maker of ChatGPT, is reportedly looking to raise billions of dollars, valuing itself at $150 billion.
Bloomberg reports that the AI firm is in talks with investors to raise $6.5 billion and a further $5 billion in a revolving credit facility (RCF) from several banks.
The company's valuation would have increased by $64 billion, rising from the $86 billion it secured in a tender offer earlier this year.
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Reported investors include Thrive Capital and Microsoft, both of which have previously backed the startup, along with Apple and Nvidia reportedly set to join the latest round.
OpenAI has not publicly commented on the raise. Its latest quest for cash comes as the startup continues to scale its AI infrastructure to support increased research and product offerings.
It’s set to launch improved voice capabilities for ChatGPT users later this year as well as power Apple Intelligence, the new AI features in the iPhone 16 which was officially unveiled earlier this week.
OpenAI also released a series of new AI models, called o1, yesterday (September 12) designed to tackle more complex tasks through enhancing reasoning capabilities.
In addition to the raise reports, private securities marketplace Forge added OpenAI to its “Magnificent 7” list of startups whose valuation outpace the majority of private market companies.
OpenAI is joined on the list by other AI startups like Databricks and Scale AI, as well as Elon Musk’s SpaceX, which operates the Starlink satellite internet service, financial services Strike, and HR software solutions provider Rippling.
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