OpenAI completes the largest financing in Silicon Valley history with a valuation of $85.2 billion.

OpenAI has completed a round of financing of $122 billion, setting a record in Silicon Valley history with a valuation of $852 billion. The company is expected to have a major IPO by the end of the year. This deal also brings an additional benefit: expanding channels for retail investors. As part of this financing, OpenAI raised over $3 billion from high net worth investors through banks. The company also stated that its stock will be included in multiple exchange traded funds managed by the investment company ARK Invest, led by tech stock enthusiast Cathie Wood. Amazon, NVIDIA, and SoftBank have committed to invest $110 billion in this round of financing, with the remaining funds coming from investment companies in Silicon Valley and Wall Street.