OpenAI said it has closed a $110 billion funding round, pushing its post-money valuation above $840 billion and setting a new record for the largest single corporate financing round on record. The company said the new capital will be directed toward AI infrastructure and the development of next-generation models.
Amazon, SoftBank, and Nvidia each brought a different agenda
Amazon was the largest single backer in the round, committing $50 billion. At the same time, it expanded its AWS infrastructure relationship with OpenAI. On top of an existing $38 billion cloud contract, the two sides added an $100 billion compute agreement running for eight years. The structure gives Amazon both an equity position in OpenAI and a long-term infrastructure customer for AWS.
SoftBank contributed $30 billion. The source material describes the move as consistent with Masayoshi Son’s long-running strategy of taking large positions in core AI platforms and waiting for scale to drive valuation. SoftBank is already a long-term OpenAI shareholder and a co-lead on the Stargate project.
Nvidia also invested $30 billion. The report frames that deal less as a passive financial investment and more as a strategic alignment. OpenAI is described as one of the world’s largest GPU consumers, with Nvidia’s H100 and Blackwell chips already handling a significant share of OpenAI’s training and inference workloads. With an equity stake, Nvidia tightens its link to one of its most important customers.
Compute spending plans run far beyond this raise
According to the report, OpenAI told investors last week that it expects total compute spending to reach roughly $600 billion by 2030. That figure is close to six times the size of the newly announced round. In practical terms, the $110 billion raise does not cover the company’s full capital needs for the next several years; it covers one stage of a much larger buildout.
The spending pipeline mentioned in the source includes the Stargate project, the expanded AWS agreement, and other compute deployments that have not yet been made public. That leaves OpenAI with an ongoing need for fresh capital as it keeps scaling training, inference, and infrastructure capacity.
OpenAI widens the capital gap with rivals
The report also places the raise against other AI financing rounds. Anthropic’s last round was listed at $30 billion, while xAI’s previous round was cited at $20 billion. Google and Meta continue to fund AI largely through internal capital, so their spending does not show up in private fundraising totals in the same way.
At $110 billion, OpenAI now holds the record for the largest single private fundraising round. Based on the report’s framing, the company may end up being the one that breaks this record again.