Artificial intelligence giant OpenAI has received a new investment of $8.3 billion, thanks to its rapidly growing business volume.
Following the development, volatility increased in the price of CEO Sam Altman-linked altcoin World (WLD).
The funding round, part of the company’s total $40 billion investment round, closed earlier than expected and was five times oversubscribed, according to a source familiar with the matter.
OpenAI’s annual recurring revenue rose from $10 billion to $13 billion in June and is expected to surpass $20 billion by year-end. The number of paid ChatGPT business users, in particular, has grown from 3 million to 5 million in just a few months.
Dragoneer Investment Group contributed $2.8 billion to the investment round, while Blackstone, TPG, T. Rowe Price, Fidelity, Founders Fund, Sequoia, Andreessen Horowitz, Coatue, Altimeter, D1 Capital, Tiger Global and Thrive Capital were also among the major investors participating.
According to sources, Dragoneer is the largest contributor in this round, while SoftBank remains the lead backer of the $40 billion overall funding round.
*This is not investment advice.