As you’re preoccupied with using ChatGPT’s novel image-generation features to give your pictures a Ghibli-inspired makeover, OpenAI is actively securing a substantial amount of additional funding. According to a report from Bloomberg, the company is nearing the completion of a new funding round worth $40 billion, led by SoftBank.

The report further states that other investment funds, including Magnetar Capital, Coatue Management, Founders Fund, and Altimeter Capital Management, are engaged in discussions with OpenAI to participate in this funding round. Notably, Magnetar is considering an investment of $1 billion.

As per Bloomberg, SoftBank’s initial investment will be $7.5 billion, supplemented by an additional $2.5 billion from a consortium of investors. Furthermore, the report mentions that a second phase of investment is anticipated later this year, where SoftBank will contribute an additional $22.5 billion, and a further $7.5 billion will be invested through syndication.

OpenAI’s previous funding round, which took place in October 2024, was led by Thrive Capital and raised $6.6 billion, resulting in a valuation of $157 billion. According to Bloomberg’s latest report, this new funding round will propel the company’s valuation to a staggering $300 billion, more than doubling its previous valuation, after raising $6.6 billion.