OpenAI has closed a $110 billion funding round — the largest private financing in history — valuing the ChatGPT maker at $730 billion pre-money and $840 billion post-money. Amazon led with a $50 billion investment, while Nvidia and SoftBank each contributed $30 billion. The round remains open, with more investors expected to join.
Just twelve months ago, OpenAI broke its own record with a $40 billion raise at a $300 billion valuation. It has since more than doubled its valuation and nearly tripled its fundraising haul.
Amazon Invests $50 Billion in OpenAI — Its Largest Investment Ever
Amazon’s $50 billion commitment starts at $15 billion, with the remaining $35 billion contingent on undisclosed conditions. Reports suggest those may include OpenAI achieving AGI or completing an IPO by year’s end.
Beyond capital, it’s a full strategic partnership. OpenAI will develop custom models for Amazon products, expand its AWS compute deal by $100 billion over eight years, and build a stateful runtime on Amazon’s Bedrock platform. AWS becomes the exclusive third-party cloud distributor for OpenAI’s enterprise platform Frontier.
Amazon is hedging. After years backing Anthropic and building in-house models like Titan, it’s now paying premium to ensure OpenAI’s infrastructure also runs on AWS — not exclusively on Microsoft Azure.
Nvidia and SoftBank Invest $30 Billion Each in OpenAI
Nvidia’s participation completes one of tech’s most fascinating financial loops. Nvidia sells the GPUs OpenAI needs. OpenAI raises billions from Nvidia. That money flows back as hardware purchases. As part of the deal, OpenAI committed to 5 gigawatts of capacity on Nvidia’s next-generation Vera Rubin systems — roughly enough to power a mid-sized city.
SoftBank, which led OpenAI’s previous round, doubles down while simultaneously leading the $500 billion Stargate data center venture with OpenAI and Oracle. Masayoshi Son has positioned SoftBank as one of the largest financial backers of the AI era — a redemption arc after the Vision Fund’s spectacular losses on WeWork and Wirecard.
Microsoft Absent From OpenAI’s $110 Billion Round
Notably absent: Microsoft, which has invested over $13 billion in OpenAI since 2019. OpenAI insisted “nothing changes” about that partnership, but the subtext is clear. By diversifying onto AWS and welcoming Amazon as its largest single investor, OpenAI is turning an exclusive relationship into a shared custody arrangement.
OpenAI Targets $600 Billion in Compute Spending
OpenAI is targeting $600 billion in total compute spend and projecting $280 billion in revenue by 2030. With 900 million weekly active users and 50 million paying ChatGPT subscribers, the scale is there. But so is the competition — Google’s Gemini, Anthropic in enterprise, DeepSeek from China, and Musk’s xAI are all closing in.
OpenAI went from raising $6.6 billion in 2024 to $40 billion in 2025 to $110 billion in 2026. Each round roughly triples the last. The question is no longer whether AI will reshape the economy — it’s whether any single company can spend $600 billion building it and still come out ahead.
