OpenAI Funding on Track to Top $100 Billion in Latest Round [Yahoo! Finance Canada]
Amazon.com, Inc. (AMZN)
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Source: Yahoo! Finance Canada
The first portion of the funding round will largely come from strategic investors including Amazon.com Inc., SoftBank Group Corp., Nvidia Corp. and Microsoft Corp., the people said. If those companies invest near the highest ranges of what has been discussed, those commitments will near $100 billion. Those companies are expected to finalize their allocations by the end of this month, some of the people said. Shares of SoftBank, which held a roughly 11% stake in OpenAI as of December, rose as much as 4% on the news Thursday morning in Tokyo. The next phase of the deal — which will include venture capital firms, sovereign wealth funds and other financial investors — is expected to close later, and may bring the total fundraising amount substantially higher, some of the people said. The deal is not yet finalized and the details could change, some of the people said. Representatives for OpenAI, Amazon, Nvidia, SoftBank and Microsoft either declined to comment or did not immediate
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