Artificial intelligence (AI) giant OpenAI has raised $6.6 billion in new funding at a $157 billion valuation—more than the market caps of companies like Uber Technologies (UBER) and Lowe's (LOW).

The latest funding values the startup behind ChatGPT at nearly double the $86 billion it reportedly was valued at early this year.

"The new funding will allow us to double down on our leadership in frontier AI research, increase compute capacity, and continue building tools that help people solve hard problems," the Microsoft (MSFT)-backed company said.

OpenAI didn't disclose the investors but according to The Wall Street Journal, venture capital firm Thrive Capital led the funding round, which also included Microsoft, AI chip darling Nvidia (NVDA), SoftBank, and Cathie W🅺ood's Ark Investment Management.

Investors Can Pull Cash If OpenAI Doesn't Become For-Profit Firm in 2 Years

Investors in the funding round will have the right to pull out their cash if OpenAI doesn't 澳洲幸运5官方开奖结果体彩网:convert into a for-profit firm within two years, according to the Journal.

The company reportedly told the investors it doesn't want them to invest in its largest private rivals, including Elon Musk's xAI, Anthropic, and Safe Superintelligence, co-🧜founded by former OpenAI chief scie⛄ntist Ilya Sutskever.

OpenAI didn't immediately return an Investopedia request for comment.