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.

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.

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.