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The artificial intelligence sector is experiencing a surge fueled by investments from leading global corporations. With funding from major companies pouring in, it underscores the growing interest in AI.

OpenAI, the innovative American company behind the AI tool ChatGPT, has raised $6.6 billion from a diverse group of investors, including tech giants Microsoft, Nvidia, and financial powerhouse Fidelity. This latest influx of capital has propelled OpenAI’s valuation to an impressive $157 billion.

Leading the charge in this funding round was Thrive Capital, a venture capital firm led by Josh Kushner. Thrive Capital made a substantial contribution of $1.3 billion. 

Meanwhile, tech giant Microsoft bolstered its commitment by investing an additional $750 million, adding to the $13 billion it had already poured into the AI company. 

According to a Bloomberg report, this substantial investment ranks among the largest private funding rounds, positioning OpenAI as one of the top three venture-backed startups. It now stands alongside notable giants such as Elon Musk’s SpaceX and TikTok’s parent company, ByteDance Ltd.

Apart from the major tech giants and Thrive Capital, investors such as Tiger Global Management and Altimeter Capital also contributed $350 million and $250 million, respectively. 

In this private investment round, OpenAI also received support from global companies such as SoftBank Group and the Abu Dhabi-based tech investment firm, MGX. While MGX’s investment remains undisclosed, SoftBank’s contribution is reportedly valued at $500 million.

The AI American firm claimed the investments will be used on artificial intelligence research and to increase its computing capabilities.