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Cathie Wood's Ark is doubling down on OpenAI with at least $250 million in its new funding round

Melia Russell,Ben BergmanOct 3, 2024, 00:51 IST

Business Insider

Cathie Wood.Marco Bello/Getty Images

OpenAI just closed a $6.6 billion funding round.
The new round values the ChatGPT developer at more than $150 billion.

Cathie Wood's Ark Venture Fund has agreed to invest at least $250 million in OpenAI's latest funding round, according to three people familiar with the round. The deal marks the fund's second investment in the ChatGPT maker.

The money brings the round, one of the largest in startup history, to $6.6 billion. Ark joins Thrive Capital, which led the round. Other rumored participants are Microsoft, Nvidia, and Altimeter.

Ark said in April it grabbed a stake in the company.

A spokesperson for Ark Venture Fund did not immediately respond to a request for comment.

Ark has invested in a number of high-profile startups including OpenAI rival Anthropic, xAI, SpaceX, FigureAI, and Databricks.