OpenAI Set to Raise $10 Billion From MGX, Coatue, and Thrive Capital
OpenAI is nearing a deal to raise approximately $10 billion from investors including MGX, Coatue Management, and Thrive Capital, bringing the total from its latest funding round to over $120 billion.
Key Points
- OpenAI raising ~$10 billion from MGX, Coatue, and Thrive Capital, bringing total round to $120B+
- T. Rowe Price is co-leading the financing alongside MGX, Coatue, and Thrive
- CFO Sarah Friar confirmed the raise in a CNBC interview
- Deal expected to close next week
Full Details
OpenAI is nearing a deal to raise about $10 billion from venture investors, according to sources familiar with the matter, bringing the total haul from its latest funding round to more than $120 billion. In a CNBC interview on March 24, 2026, OpenAI Chief Financial Officer Sarah Friar confirmed the company was tapping investors for additional funds. The financing is set to be co-led by MGX, Coatue Management, and Thrive Capital, with T. Rowe Price also participating as a co-lead. The deal is set to close next week. This massive funding round further solidifies OpenAI's position as the most well-funded AI company globally and comes amid intense competition with Anthropic, Google, and other AI providers. The additional capital will likely support continued development of OpenAI's models, potential infrastructure investments, and competitive positioning against well-funded rivals.
Why It Matters
This massive funding round further cements OpenAI's dominant position in AI and signals that the capital arms race in artificial intelligence continues to accelerate, potentially making it even harder for smaller competitors to compete.
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