OpenAI closes $110 billion round at $730 billion valuation with Amazon lead

OpenAI announced it closed a $110 billion funding round that values the company at a $730 billion pre-money valuation, with Amazon committing $50 billion, NVIDIA $30 billion and SoftBank $30 billion. The company said Amazon’s contribution will begin with a $15 billion upfront payment, with the remaining $35 billion contingent on specified conditions, and that additional investors are expected to join as the round progresses.

Company statements described the financing as a record-setting private raise that more than doubles the scale of last year’s $40 billion round and lifts a prior secondary valuation of roughly $500 billion. OpenAI said it will deploy the capital to expand computing capacity, accelerate commercial deployment of so-called frontier systems and broaden global product distribution across consumer and enterprise markets, centering investments on a product the company calls Frontier.

As part of the package, OpenAI said it has entered a multiyear strategic partnership with Amazon, under which Amazon Web Services will serve as the exclusive third-party cloud provider for Frontier and the two firms will develop customized models for Amazon’s customer-facing applications. The company also said it is expanding arrangements with NVIDIA to secure dedicated hardware: the deal includes access to 3 gigawatts of dedicated inference capacity and 2 gigawatts of training power on next-generation Vera Rubin systems, building on existing deployments of Hopper and Blackwell architectures operated via Microsoft, Oracle Cloud Infrastructure and CoreWeave. Microsoft, OpenAI said, retains an option to participate in the current round and its ongoing partnership with the company is unchanged.

OpenAI released user and adoption figures alongside the financing announcement, saying ChatGPT now reaches more than 900 million weekly active users and has surpassed 50 million consumer subscribers, while more than nine million paying corporate users rely on the platform. The company said Codex’s weekly user base has grown to about 1.6 million. Those metrics underscore the scale of demand the company aims to monetize as it moves deeper into enterprise software and cloud services.

The announcement also touched on the organization’s philanthropic arm. OpenAI said the new valuation raises the OpenAI Foundation’s stake in the broader group above $180 billion, a change the company said strengthens its capacity to fund philanthropic work in areas such as health research and AI resilience.

The round’s size and structure invite immediate policy and market questions. Concentrated commitments of cloud exclusivity and dedicated next-generation compute could reshape bargaining power among hyperscalers, chipmakers and corporate customers, and may draw scrutiny from competition and national-security regulators. OpenAI also faces intensifying competition from other large AI developers, a dynamic the company acknowledged as it secures expanded capital and infrastructure.

OpenAI included one on-message comment from chief executive Sam Altman: "We're pushing the frontier across infrastructure, research, and products to make AI more capable, reliable, and broadly useful." The company noted some forward-looking numeric claims circulating publicly — including a reported plan to spend $600 billion on compute by 2030 and expectations of more than $280 billion in revenue — have appeared in aggregated social reporting and community posts and have not been confirmed by OpenAI as formal guidance.

The company said the funding round has closed and that it will provide additional details on investor participation, contractual terms and product timelines as agreements are finalized.