OpenAI seeks to raise as much as $100B at $830B valuation, WSJ reports

Microsoft (MSFT)-backed OpenAI is seeking to raise as much as $100B as it tries to pay for ambitious growth plans in a market that has ebbed recently on the AI boom, the Wall Street Journal’s Kate Clark and Berber Jin report. The latest funding round for the ChatGPT maker, which is in the early stages, could value it at as high as $830B if it raises the full amount it is aiming for, the authors say, citing people familiar with the matter. The AI company is seeking to complete the round by the end of Q1 at the earliest, the authors say, noting that the terms of the deal could still change and it is unclear whether there will be sufficient shareholder demand to reach the target. OpenAI is anticipated to recruit sovereign wealth funds to participate in the funding, given the scale, the authors say, citing people familiar with the matter.