OpenAI secures massive funding from Amazon, Nvidia, and SoftBank

OpenAI, the company behind ChatGPT, has finalized a huge new round of funding. The company is raising $110 billion from major tech and investment firms, including Amazon, Nvidia, and SoftBank. This investment values OpenAI at hundreds of billions of dollars, with reports citing figures between $730 billion and $840 billion.

As part of this deal, Amazon and OpenAI have reached a separate $50 billion investment agreement. The massive influx of cash is described as creating a 'war chest' for OpenAI, likely to be used for mergers, acquisitions, and further development of its artificial intelligence technology.

The funding highlights the intense competition and high stakes in the AI sector. In a related move, another tech company, Block, announced it is laying off thousands of employees, citing a shift in focus toward AI as a reason, suggesting other companies may follow a similar path.