OpenAI Valuation May Double in 3 Months... "Discussing 58 Trillion Won Fundraising"

Corporate Valuation Projected at $340 Billion
Investments in Projects Like Stargate

ChatGPT developer OpenAI has entered discussions to raise $40 billion (approximately 57.84 trillion KRW), according to sources cited by The Wall Street Journal (WSJ) on the 30th (local time). This would bring OpenAI's corporate valuation to $340 billion (approximately 491.64 trillion KRW).

Sam Altman, CEO of OpenAI, is having a conversation at the 'K-Startups meet OpenAI' event hosted by the Ministry of SMEs and Startups on the 9th at 63 Square, Yeouido, Seoul. Photo by Jinhyung Kang aymsdream@

WSJ reported that SoftBank Group Chairman Son Jeong-ui is leading this investment and is discussing an investment ranging from $15 billion to $25 billion (approximately 21.69 trillion to 36.15 trillion KRW). The remaining amount is planned to be raised from other investors, with SoftBank assisting in gathering investors. However, sources noted that the discussions are still fluid and there is a possibility of the deal falling through.

The funds raised will be used for the AI data center construction project Stargate, a joint investment by OpenAI and SoftBank, among others. OpenAI is expected to contribute about $18 billion (approximately 26.028 trillion KRW) to Stargate. WSJ anticipates that the remaining funds will be used for business operations.

Previously, OpenAI raised $6.6 billion (approximately 9.5436 trillion KRW) in October last year, recognizing a corporate valuation of $157 billion (approximately 227.022 trillion KRW). This means the corporate valuation doubled in just three months.

According to data provider CB Insights, if OpenAI is valued at $340 billion this time, it will become the world's second most valuable startup after Elon Musk's space company SpaceX. WSJ also evaluated the $40 billion fundraising as one of the largest in Silicon Valley history. In 2023, OpenAI raised $10 billion from Microsoft (MS), setting the record for the largest single investment amount.

Chairman Son invested $500 million in OpenAI in October last year and purchased OpenAI shares worth $1.5 billion through a public tender offer to OpenAI employees in November. WSJ described this negotiation as an example showing the rapidly deepening relationship between OpenAI CEO Sam Altman and Chairman Son, suggesting that Son has chosen OpenAI as an investment vehicle in the AI industry.