Funding round
OpenAI Growth
Reported as "Growth Equity"
OpenAI, which works in AI model design and development in San Francisco, raised $6.60B in a Growth round announced on 2 Oct 2024, led by Thrive Capital, at a $157.00B post-money valuation. 9 firms took part, 2 of them already investors. It is OpenAI's fourth venture round on record; the one before was a Growth in Apr 2023.
$6.60B
Amount raised
$157.00B
Post-money valuation
$150.40B pre-money
9
Investors
1 lead
5.4x
Step-up from the Growth
$29.00B in Apr 2023
4.2%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced OpenAI at $157.00B after the new money, 5.4 times the $29.00B of its Growth (Apr 2023). The $6.60B bought investors about 4.2% of the company. It came 18 months after OpenAI's Growth. It is 10.0% of the $66.20B OpenAI has raised in the venture rounds on record. OpenAI raised again 5 months later: a Growth round of $40.00B in Mar 2025, at $300.00B post-money.
OpenAI's funding rounds
OpenAI has 6 venture rounds on record and 2 other deals. This one is highlighted.
- Growth 22 Jul 2019, led by Microsoft $1.00B
- Growth 1 Jan 2023, led by Microsoft $10.00B$29.00B post-money
- Growth 30 Apr 2023 $300M$29.00B post-money
- Growth this round 2 Oct 2024, led by Thrive Capital $6.60B$157.00B post-money
- Debt not a venture round 3 Oct 2024 $4.00B
- Growth 31 Mar 2025, led by SoftBank Group $40.00B$300.00B post-money
- Growth 1 Aug 2025, led by Dragoneer Investment Group $8.30B$300.00B post-money
- Other not a venture round 31 Mar 2026 $122.00B$852.00B post-money
Investors
Who put money in
Thrive Capital led the round with 8 other firms. Microsoft and Thrive Capital had backed OpenAI before.
Lead investor
- Thrive Capital backs 130 venture-backed companies existing investor
Also in the round
- Microsoft existing investor
- Nvidia new investor
- SoftBank new investor
- Khosla Ventures backs 396 venture-backed companies new investor
- Altimeter backs 67 venture-backed companies new investor
- Fidelity new investor
- backs 6 venture-backed companies new investor
- Tiger Global backs 391 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, scaling operations and working capital.
- Hiring
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
403 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $48M, and this round was 138 times the median. The closest in time, other companies' Growth rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 15 Oct 2024 | $300M | not disclosed | not named |
| Eon Tech Companies | 1 Oct 2024 | $127M | not disclosed | not named |
| Tech Companies | 29 Oct 2024 | $115M | not disclosed | Edison Partners |
| Tech Companies | 30 Oct 2024 | $100M | $1.60B | not named |
| Tech Companies | 16 Oct 2024 | $74M | not disclosed | not named |
| Tech Companies | 21 Oct 2024 | $60M | not disclosed | Elda River and The Pritzker Organization |
| Tech Companies | 1 Oct 2024 | $55M | not disclosed | not named |
| Tech Companies | 1 Oct 2024 | $47M | not disclosed | PSG |
Sources
Where this comes from
Reported by 8 sources.
Questions
Frequently asked
How much did OpenAI raise in its Growth round?
OpenAI raised $6.60B in its Growth round, announced in Oct 2024.
Who led OpenAI's Growth round?
Thrive Capital led it, with Microsoft, Nvidia, SoftBank, Khosla Ventures and Altimeter and 3 more.
What was OpenAI's valuation at the Growth round?
$157.00B post-money ($150.40B pre-money).
How does it compare with other Growth rounds in Tech Companies?
403 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $48M, and this round was 138 times the median.
Did OpenAI raise again after this round?
Yes: a Growth round in Mar 2025 of $40.00B at $300.00B post-money.