01:44 PM EDT, 10/02/2024 (MT Newswires) -- Microsoft ( MSFT )-backed (MSFT) OpenAI said Wednesday it raised $6.6 billion in new funding at a post-money valuation of $157 billion.

"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 ChatGPT developer said.

Venture capital firm Thrive Capital led the funding round, which also saw participation from Microsoft ( MSFT ), Nvidia ( NVDA ) , Altimeter Capital, Khosla Ventures, MGX, Softbank and others, according to multiple media outlets.

Thrive confirmed to MT Newswires that it invested and led the round. Nvidia ( NVDA ) declined comment, while Microsoft ( MSFT ) didn't immediately respond to a request for comment.

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