OpenAI, ChatGPT’s owner, is about to close its latest round of funding, led by SoftBank Group, according to Bloomberg.

Valued at $40 billion, this round includes investors such as Magnetar Capital, Coatue Management, Founders Fund, and Altimeter Capital Management.

This latest investment round, which is said to be the largest of all time, boosts OpenAI’s value to $300 billion, including dollars raised, nearly doubling the artificial intelligence company’s previous valuation of $157 billion when it went through its last funding round in October 2024.

A source familiar with the discussions told Bloomberg SoftBank will make an initial investment of $7.5 billion into OpenAI. Another investment of $2.5 billion will come from an investor syndicate, and $30 billion will be added later this year as part of a second tranche, including $22.5 billion from SoftBank and $7.5 billion from the syndicate.

SoftBank has its tentacles in other tech-related projects involving OpenAI. The company has committed billions of dollars to the Stargate Project, a private infrastructure initiative to build AI data centers and foster AI innovation in the U.S.

In addition to SoftBank and OpenAI, other companies involved in Stargate include Oracle and MGX.