OpenAI is courting a pool of major technology investors for a funding round that reports say could reach $100 billion, a push intended to finance accelerated AI development and a large-scale infrastructure buildout. The effort — including reported interest from Amazon, Nvidia, Microsoft and SoftBank, comes as OpenAI plans an initial public offering in the fourth quarter of 2026.
OpenAI reports describe a funding round that would bring together a mix of strategic and capital investors, with multibillion-dollar commitments under discussion. The structure under consideration would combine large, concentrated cheques from cloud and semiconductor providers with long-term strategic partners, reflecting both capital needs and infrastructure alignment.
Amazon is reported to be in advanced talks to invest up to $50 billion. According to sources, the initiative is being led by CEO Andy Jassy and framed as a deepened partnership that goes beyond cloud services, signaling closer operational and strategic cooperation.
Nvidia and Microsoft are also weighing participation, with reports indicating a combined contribution that could reach up to $60 billion. Within that total, Nvidia’s potential share is said to be in the range of $20–30 billion, underscoring the central role of advanced chips and compute capacity in the deal.
SoftBank Group is another key name in discussions, reportedly considering an investment of around $30 billion. This would follow a $22.5 billion injection in December, positioning SoftBank as a repeat and increasingly significant backer in the company’s capital structure.
Why the round, and the path to public markets
According to reporting, the funding round is designed to cover sharply rising costs associated with training and operating large-scale AI models, while also underwriting a multiyear infrastructure expansion plan. OpenAI is reportedly targeting a valuation in the $750 billion to $830 billion range for this round, with some projections pointing to an eventual public-market valuation of around $1 trillion.
Operational pressure is a key driver behind the raise. OpenAI is projected to report losses of $14 billion to $17 billion in 2026, as spending on compute and talent continues to climb. In parallel, the company is expanding its finance team and holding informal discussions related to a future IPO.
Microsoft already holds a substantial position in OpenAI, reported at roughly 27%, and has realized a multibillion-dollar gain on its investment. This existing stake shapes Microsoft’s role as both a financial investor and a strategic partner in any new round.
More broadly, competition and prior investments are shaping the dynamics of the deal. The round is presented as part of an ongoing race among major AI players to secure access to compute, models, and distribution.
A funding package of this scale would concentrate capital and infrastructure influence among a small group of large technology firms, with potential downstream effects on cloud pricing, access to advanced models, partnership structures, and, for investors, questions around concentration risk, valuation benchmarks, and the timeline to liquidity ahead of the planned public listing.
