On Monday, OpenAI revealed the completion of one of the largest private funding rounds on record.

As stated in a post on the company’s website, OpenAI secured $40 billion in funding, which brings the company’s post-money valuation to $300 billion. According to CNBC, SoftBank led the funding round, with additional participation from investors including Microsoft, Coatue, Altimeter, and Thrive.

The company stated in the blog post, “[This funding] allows us to further expand the boundaries of AI research, scale up our computational infrastructure, and provide more advanced tools to the 500 million users who utilize ChatGPT on a weekly basis.”