OpenAI raised $110B — the largest private round in history.
Amazon invested $50B, SoftBank — $30B, Nvidia — $30B. The company's valuation is now $840B (post-money).
Amazon simultaneously holds $8B in Anthropic — OpenAI's main competitor. Corporations are buying stakes in all frontier labs simultaneously, which makes sense.
AWS becomes OpenAI's exclusive cloud partner for the enterprise market. The deal includes expanding the cloud agreement to $100B over 8 years.
ChatGPT currently has 900 million weekly active users. Sam Altman says OpenAI is entering a "new phase where frontier AI transitions from research to global-scale deployment." Well, the new Codex is really good. You can feel the vector shift and product improvement.
UPDATE: Thinking about it more, this isn't exactly an investment. OpenAI's valuation rises with each round. A significant portion of this money is likely not live cash but cloud credits and future hardware discounts. But in the press release it looks like $110B in cash. Look: Amazon gives $50B but immediately gets a $100B contract and AWS becomes the exclusive cloud provider for OpenAI's enterprise platform. Nvidia gives $30B and gets an order for 5 gigawatts of compute on its Vera Rubin systems. Essentially, this isn't a venture round. It's a prepayment for their own services, packaged as equity. The investors put in money that will come right back to them as revenue. The only one playing classic venture here is SoftBank. But when has that ever stopped Masayoshi Son.