OpenAI said to be finalizing $100 billion funding round

Core Insights - OpenAI is nearing a record fundraising round expected to exceed $100 billion, which would elevate its valuation to over $850 billion [1][2] Fundraising Details - The new funding round, rumored for months, is anticipated to close by the end of the month, with major backers including Amazon (up to $50 billion), SoftBank ($30 billion), Nvidia ($20 billion), and Microsoft [2] - This new round more than doubles the previous record of $40 billion raised by OpenAI in March [3] Financial Strategy - OpenAI is investing heavily in infrastructure, with significant financial commitments to companies like Nvidia and Oracle, raising questions about when these investments will yield profits [3] - CEO Sam Altman emphasized that the current focus is on growth rather than immediate profitability, stating that reasonable unit economics will guide future decisions on profitability [4] IPO Prospects - OpenAI is reportedly preparing for an IPO, potentially as soon as later this year, competing with rival Anthropic to be the first major AI company to go public [4]