OpenAI Secures Record $6.6 Billion to Reach $157 Billion Valuation
OpenAI closes the largest venture capital round in history, raising $6.6 billion led by Thrive Capital. The massive investment brings the AI startup's total funding to $17.9 billion.
OpenAI closes the largest venture capital round in history by raising $6.6 billion, a deal that values the AI startup at $157 billion post-money. Thrive Capital leads this massive investment, which brings the company's total raised capital to $17.9 billion. Alongside the equity round, OpenAI also secures a significant credit line to fuel its ongoing operations and ambitious development goals.
Other tech companies experience notable financial shifts this week as ElevenLabs fields interest from investors for a new round that potentially values the AI voice startup at $3 billion. Meanwhile, Elon Musk's social media platform X suffers a steep decline, with Fidelity estimating its current value at just $9.4 billion, which is less than a quarter of its original $44 billion purchase price.
Additional headlines include Tesla issuing a fifth Cybertruck recall due to a delayed rearview camera display and California Governor Gavin Newsom vetoing the controversial AI safety bill SB 1047. Meta also makes waves by unveiling Movie Gen, a text-to-video AI model that creates short clips with sound, though the company keeps the tool strictly as a research project without a public release.