AsianFin -- OpenAI is close to finalizing a $40 billion funding round led by SoftBank Group, with participation from Magnetar Capital, Coatue Management, Founders Fund, and Altimeter Capital Management. This investment would push OpenAI’s valuation to nearly $300 billion, almost doubling its previous worth.

SoftBank is set to contribute an initial $7.5 billion, with an additional $30 billion tranche planned later. Magnetar Capital may invest up to $1 billion in this round.

This funding aligns with OpenAI’s strong revenue projections, expecting annual earnings to soar from $3.7 billion in 2024 to $12.7 billion this year.

The capital injection will fuel OpenAI’s research, development, and global expansion. Recently, CEO Sam Altman announced that COO Brad Lightcap will oversee global growth and partnerships, while Altman focuses on technical advancements, including research and product innovation.