The company anticipates revenues of $3.6bn for the current year, despite accruing losses exceeding $5bn. Credit: JarTee / Shutterstock.

AI startup OpenAI has secured $6.6bn in its latest funding round, which attracted a consortium of investors, according to Reuters.

This latest financial injection could propel the company’s valuation to an estimated $157bn, positioning OpenAI as one of the most valuable private entities worldwide.

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The investment round attracted significant contributions from existing backers such as Thrive Capital and Khosla Ventures, alongside OpenAI’s principal corporate supporter Microsoft and new investor NVIDIA.

Thrive Capital pledged approximately $1.2bn, with a provision to inject an additional $1bn next year, contingent on OpenAI achieving a specific revenue target, the publication quoted sources as saying.

Altimeter Capital, Fidelity, SoftBank, and Abu Dhabi’s state-backed MGX also participated in this financing round.

This fundraising follows the unexpected exit of its chief technology officer Mira Murati last week.

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Earlier this year, OpenAI permitted certain staff members to liquidate their shares, valuing the company at $86bn.

Despite negotiations, Apple abstained from joining this investment round.

The funding was structured as convertible notes, with the equity conversion dependent on OpenAI’s transition to a profit-driven entity and the removal of investor return caps.

The company anticipates revenues of $3.6bn for the current year, despite accruing losses exceeding $5bn. Next year’s revenue is projected to surge to $11.6bn.

Investors have secured certain assurances amid the intricate corporate restructuring. These terms permit investors to reclaim their capital or renegotiate the valuation if the proposed changes do not materialise within a two-year timeframe.

OpenAI chief financial officer Sarah Friar was quoted by Reuters as saying that the company will be able to offer liquidity for them through a tender offer to buy back their shares in the company following the funding, although no details and timing have been decided.