Krux
February 28, 2026
OpenAI Raises $110B at $840B Valuation
Published: February 28, 2026 at 3:41 PM
Updated: February 28, 2026 at 3:41 PM
100-word summary
OpenAI closed a $110 billion funding round led by Amazon, Nvidia, and SoftBank, valuing the company at $840 billion post-money. Amazon is writing the biggest check at $50 billion, with another $35 billion potentially coming later if OpenAI hits undisclosed milestones. The deal isn't entirely cash. Part of the funding comes as computing power and cloud services, locking OpenAI deeper into Amazon's infrastructure and Nvidia's chip supply. The funding signals a race to control AI distribution channels, not just build better models. When your investors are also your cloud provider and chipmaker, independence becomes expensive.
What happened
OpenAI closed a $110 billion funding round led by Amazon, Nvidia, and SoftBank, valuing the company at $840 billion post-money. Amazon is writing the biggest check at $50 billion, with another $35 billion potentially coming later if OpenAI hits undisclosed milestones. The deal isn't entirely cash. Part of the funding comes as computing power and cloud services, locking OpenAI deeper into Amazon's infrastructure and Nvidia's chip supply. The funding signals a race to control AI distribution channels, not just build better models.
Why it matters
When your investors are also your cloud provider and chipmaker, independence becomes expensive.