Summary:
According to multiple reports and people familiar with the matter, OpenAI is close to completing the first phase of a corporate-led raise that could exceed $100 billion. The company is working from a roughly $730 billion pre-money valuation; if the full first phase closes at the high end, the post-money valuation could top $850 billion. Talks are active and details may change before closing. For reporting, see Tech Funding News: techfundingnews.com.
Who’s circling, and how much:
- Amazon (AWS - Amazon Web Services): Has discussed up to $50 billion. AWS is the market-leading cloud platform, and deeper OpenAI use could affect cloud capacity and pricing.
- SoftBank (Vision Fund parent): Reportedly up to $30 billion. SoftBank has a history of very large bets on tech and AI.
- Nvidia: In talks; more OpenAI spending likely means more demand for its GPUs (graphics processing units), the chips many AI workloads need.
- Microsoft: Longtime OpenAI partner and major Azure (Microsoft's cloud) customer and investor; reported to be in discussions as well.
These figures are upper-end estimates. The combined total reaches roughly $100 billion only if participants commit near those caps. For more coverage, see TechCrunch: techcrunch.com.
Deal structure and timing:
- The first tranche will be paid in scheduled installments rather than a single lump sum - think multiple payments over time.
- That first tranche is expected to come mainly from strategic corporate investors, with allocations expected to be finalized by the end of the month. Funds would be distributed through the year.
- A second phase is planned for venture capital firms, sovereign wealth funds (government investment funds), and other financial institutions.
Details are still being negotiated and could change. Source: Tech Funding News: techfundingnews.com.
Why these names matter (quick context):
- Amazon (AWS): AWS is the largest cloud provider. If OpenAI increases its AWS usage, it could shift capacity needs and pricing dynamics. See CRN: crn.com.
- Nvidia: Nvidia makes the GPUs that power many AI models. More OpenAI spending likely means higher demand for these chips. See Barron's: barrons.com.
- Microsoft (Azure): OpenAI already runs heavily on Azure. Microsoft has a significant equity stake and an existing multi-billion dollar partnership. See the Microsoft Blog: blogs.microsoft.com.
- SoftBank (Vision Fund): Known for very large technology investments and now reportedly eyeing another jumbo check. See Bloomberg: bloomberg.com.
So what for builders:
- Expect late-stage company valuations and comps to feel frothy. Focus on revenue quality, not headlines, when benchmarking.
- Lock multi-quarter cloud credits and diversify across regions and providers early. If AWS demand spikes, capacity and pricing could tighten.
- Plan for longer lead times on GPUs and other accelerators. Book commitments now and revisit your unit economics every quarter.
- If you sell products or services to these big cloud players, show clear integration value fast. Avoid over-rotating toward exclusive deals that could limit options.
Bottom line:
This round is not finished yet. But if it lands near the high end, OpenAI would gain a much larger war chest, tighter vendor ties, and stronger access to compute resources - all of which could materially shape the AI infrastructure market. Reporting and analysis: Tech Funding News: techfundingnews.com.
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