06:59 AM EDT, 10/03/2024 (MT Newswires) -- (Updates with a response from Microsoft ( MSFT ) in the seventh paragraph.)

Microsoft ( MSFT ) invested an additional $750 million in OpenAI's $6.6 billion new funding round, Bloomberg News reported Wednesday, citing a person familiar with the matter.

Thrive Capital led the funding round with a $1.3 billion investment, the report said.

Khosla Ventures, Fidelity Management & Research and Nvidia ( NVDA ) also participated in the funding round that gave OpenAI a valuation of $157 billion, the report said.

The cash influx will be to drive AI research and increase computing capacity, OpenAI said in a statement, according to Bloomberg.

Microsoft ( MSFT ) declined to comment, Bloomberg said.

OpenAI and Thrive Capital didn't immediately respond to requests for comment from MT Newswires.

A Microsoft ( MSFT ) spokesperson confirmed to MT Newswires that the software giant was included in OpenAI's latest funding round, without disclosing financial details. "We look forward to continuing our partnership with OpenAI," the spokesperson said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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