Ark Venture Fund Boosts Investment in OpenAI to $250 Million

Oct 02, 2024

Ark Venture Fund, led by renowned investor Cathie Wood, has invested at least $250 million in OpenAI during its latest funding round, according to three informed sources. This marks the fund's second investment in OpenAI. The funding round has raised a total of $6.6 billion for OpenAI, pushing the company's valuation to $157 billion, making it one of the largest funding rounds in startup history.

The round was led by Thrive Capital with participation from new and existing investors including Microsoft, SoftBank, Tiger Global, Nvidia, Khosla Ventures, Altimeter, and Abu Dhabi's MGX fund. According to Ark Venture Fund's website, OpenAI is now the fund's third-largest holding, constituting about 5% of its total assets, up from 4% when the fund first invested in April.

Earlier in April, Ark Venture Fund announced an initial investment in OpenAI without disclosing the amount. In May, the fund purchased shares in Elon Musk's AI startup xAI and previously invested in OpenAI's competitor Anthropic. Additionally, in February, the fund made a notable investment by adding robotics developer Figure to its portfolio.

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