OpenAI finalizes the first phase of a new funding round that will exceed $100 billion, reports Bloomberg. The company's valuation may exceed $850 billion — higher than the initially expected $830 billion. This is an absolute record for private technology funding: more than double the previous record set by OpenAI itself ($41 billion, closed with SoftBank in December 2025).

The first phase of the round is formed by four strategic investors. Amazon discusses up to $50 billion — on the condition that OpenAI expands the use of Trainium chips and the company's cloud services. SoftBank is ready to invest up to $30 billion — on top of the $41 billion already invested last year. Nvidia is considering about $20 billion, Microsoft is also participating, but does not disclose the specific amount. Investor allocations must be approved by the end of February, after which the second phase will follow — involving venture funds and sovereign funds, which could raise the total amount even higher.

The scale of the investments looks paradoxical against the financial indicators of OpenAI. The company remains deeply unprofitable and does not plan to turn a profit before 2029. According to internal forecasts, the loss in 2026 will amount to $14 billion — three times more than in 2025. Analysts at Deutsche Bank estimate the cumulative negative cash flow at $143 billion by 2029. At the same time, 60–80% of expenses go to training and launching models, while the company's infrastructure liabilities exceed $1.4 trillion.

Money is needed by OpenAI to build AI infrastructure, which Sam Altman estimates to be worth "trillions of dollars". A key project is Stargate, costing $500 billion, being implemented in collaboration with SoftBank and Oracle. At the same time, the company is preparing for an IPO in the second half of 2026 with a target valuation of up to $1 trillion. For the four investors, the stake is not only financial: Amazon gets a customer for its chips, SoftBank deepens its largest bet in history, and Nvidia and Microsoft strengthen partnerships with the company that consumes the most computational resources in the world.#CZ #BinanceExplorers