OpenAI CEO Sam Altman in Berlin on September 25, 2025.
Florian Gärtner | Phototech | Getty Images
OpenAI has completed a $110 billion funding round, more than double its previous raise a year ago and a record for a private technology company.
Amazon Investing $50 billion, Nvidia Investing $30 billion, Softbank OpenAI said in a release Friday that it invested $30 billion in the round. The investment boosts OpenAI’s pre-money valuation to $730 billion, a significant increase from its $500 billion valuation in October’s secondary financing. OpenAI says other investors will join as the round progresses.
“These partnerships expand our global reach, strengthen our infrastructure, and strengthen our balance sheet, allowing us to bring Frontier AI to more people, more businesses, and more communities around the world,” OpenAI said in a statement.
In addition to participating in the funding round, Amazon announced a multi-year strategic partnership with OpenAI.
OpenAI announced it will expand its existing $38 billion contract with Amazon Web Services by $100 billion over the next eight years. AWS will also serve as the exclusive third-party cloud distribution provider for Frontier, OpenAI’s enterprise platform, announced earlier this month.
In the more than three years since ChatPGT launched, OpenAI has reshaped the technology industry and defined the era of generative artificial intelligence. But the company will need to keep shelling out cash to fund its ambitions, especially to pay for graphics processing units and other infrastructure.
Listen to Amazon CEO Andy Jassy and OpenAI CEO Sam Altman join CNBC’s “Squawk Box” at 8:40 a.m. ET. Watch in real time on CNBC+ or CNBC Pro streams.
CNBC first reported last week that OpenAI has told investors it aims to bring total computing spending to about $600 billion by 2030, months after CEO Sam Altman touted a $1.4 trillion infrastructure investment.
The company is offering lower numbers and a clearer timeline for its planned spending amid widespread concerns that its expansion ambitions are too large for the subsequent revenue potential, people told CNBC.
OpenAI continues to lead the consumer AI market, but faces increasing competition from the United States. Google Gemini is looking to beef up its offerings for the enterprise market, where rival Anthropic has an early lead.
OpenAI projects total revenue of more than $280 billion in 2030, with roughly equal contributions from its consumer and enterprise businesses, said the people, who requested anonymity because the information is private.
OpenAI’s latest round marks the largest private financing in history and a new high-water mark for valuations of late-stage tech companies. OpenAI first broke records last year with $40 billion in funding led by SoftBank. Rival Anthropic had the next highest total, raising $30 billion in its latest round, and xAI last raised $20 billion.
WATCH: Sam Altman says progress of Chinese technology companies is ‘remarkable’
