OpenAI Closes Record $110B Round
OpenAI has closed a massive $110 billion funding round led by Amazon and Nvidia, one of the largest private capital raises in history. The deal values the AI leader at between $730 billion and $840 billion, cementing its dominance and signaling accelerated AI adoption across Wall Street. The deal also deepens its partnerships with AWS and Nvidia for AI infrastructure.
This latest funding round dwarfs OpenAI's previous capital raises, including a significant $40 billion round in March 2025 which valued the company at $300 billion. The new $110 billion figure is more than double that prior record, underscoring the intense acceleration of capital flowing into the AI sector. The deal was structured with a $730 billion pre-money valuation. The investment is broken down into a $50 billion commitment from Amazon, with $30 billion each from Nvidia and SoftBank. Amazon's contribution will start with an initial $15 billion, with the remaining $35 billion contingent on meeting certain conditions in the coming months. For SoftBank, this brings its total investment in OpenAI to $64.6 billion, representing an approximate 13% ownership stake. A significant portion of this capital is tied to infrastructure and compute resources, not just cash. As part of the deal, OpenAI and Amazon are expanding a previous cloud agreement by an additional $100 billion over eight years. This commits OpenAI to using 2 gigawatts of computing capacity from Amazon's proprietary Trainium AI chips, including the upcoming Trainium4. Similarly, the deal deepens OpenAI's partnership with Nvidia, securing 5 gigawatts of capacity on Nvidia's next-generation "Vera Rubin" systems for both training and inference. These strategic alliances are crucial as OpenAI's compute spending is projected to potentially reach $600 billion by 2030 to maintain its competitive edge. This massive influx of capital arrives as OpenAI reports substantial user growth, with over 900 million weekly active users and more than 50 million paying consumer subscribers for ChatGPT. The company also serves over 9 million paying business users, with subscriber numbers accelerating in early 2026. The deal also repositions the competitive landscape in cloud computing. While Microsoft remains a key partner and investor with a 27% stake valued at $135 billion after a 2025 restructuring, this new alliance gives AWS a more central role. AWS will now be the exclusive third-party cloud provider for OpenAI's "Frontier," a platform for building and managing AI agents for enterprise clients.
