OpenAI in talks for huge investment round valuing it up to $340B, WSJ says

OpenAI is in early talks to raise up to $40B in a funding round that would value the ChatGPT maker at $340B, The Wall Street Journal’s Berber Jin and Deepa Seetharaman report, citing people familiar with the matter. SoftBank would lead the round and is in discussions to invest between $15B-$25B, The Wall Street Journal reported Wednesday. The funding will be used in part to help OpenAI fulfill its roughly $18B commitment to Stargate, a joint venture with SoftBank (SFTBY) and others to finance the construction of new data centers in the U.S. powering OpenAI’s technology across the country, the publication notes.