AXIOS September 20, 2024
OpenAI today is expected raise around $6.5 billion at a $150 billion pre-money valuation, while also turning down billions of oversubscribed dollars, as first reported by Bloomberg.
Why it matters: This would be the largest venture capital round of all time, topping the $6 billion raised earlier this year by Elon Musk’s xAI.
- OpenAI previously scored $10 billion from Microsoft, but that was a multi-year, corporate deal that included more cloud credits than cash.
- For context: $150 billion is what the entire U.S. venture capital market had under management in 1999, which fueled the internet bubble.
- $6.5 billion is the amount raised just 10 years ago...
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