OpenAI raises $6.6 billion, boosting valuation to $157 billion with investor conditions

OpenAI has raised $6.6 billion in a new funding round, bringing its valuation to $157 billion, nearly double its previous value of $86 billion. This funding comes with conditions allowing investors to withdraw if OpenAI does not fully convert to a for-profit model. Venture capital firm Thrive Capital led the round with a $1.25 billion investment. Microsoft contributed just under $1 billion, while new investors like SoftBank and Nvidia also participated. The United Arab Emirates-based company MGX joined the funding as well. Apple was in discussions to invest but ultimately did not participate. The minimum investment to access OpenAI's financial documents was set at $250 million. OpenAI recently appointed its first chief financial officer, Sarah Friar, to help manage this funding effort.