Open AI just completed the largest funding round in VC history

https://pitchbook.com/news/articles/openai-largest-vc-funding-round-40-billion

It’s the largest venture capital deal. Ever.

That is, OpenAI’s newly-announced $40 billion funding round—mostly from SoftBank—that nearly doubles its valuation to $300 billion.

And it’s the surest sign yet that generative AI’s momentum only continues to grow.

The ChatGPT maker has leapfrogged TikTok-maker ByteDance in PitchBook’s rankings of the most valuable VC-backed companies, second only now to Elon Musk’s SpaceX at a $350 billion valuation.

OpenAI has now surpassed ByteDance as the world's second most valuable VC-backed company