OpenAI is raising an additional $10 billion from investors as part of its historic funding round, CFO Sarah Friar told CNBC's Jim Cramer on Tuesday. The fresh capital brings OpenAI's record fundraise to "north of $120 billion," Friar said in an interview on "Mad Money." That well exceeds the ChatGPT creator's initial target of $100 billion. OpenAI announced the first tranche of investment in late ...
OpenAI is raising an additional $10 billion from investors as part of its historic funding round, CFO Sarah Friar told CNBC's Jim Cramer on Tuesday. The fresh capital brings OpenAI's record fundraise to "north of $120 billion," Friar said in an interview on "Mad Money." That well exceeds the ChatGPT creator's initial target of $100 billion. OpenAI announced the first tranche of investment in late February, and it's been seen as potentially its last private fundraise before a potential blockbuster initial public offering . Andreessen Horowitz, D.E. Shaw, MGX, TPG and T. Rowe Price are participants in the new $10 billion commitment, according to Friar. Additionally, Microsoft , a longtime investor in OpenAI and one of its major computing providers, is joining this part of the funding round. While the relationship between Microsoft and OpenAI has evolved, Friar called Microsoft "an incredible partner" and complimented its CEO, Satya Nadella, for being "there early." "What I'm really pleased about is we raised money all around the ecosystem," Friar told Cramer, pointing to involve from venture capital firms, private equity players, mutual funds and sovereign entities. "It didn't matter where you went, people really believed in this AI revolution and they wanted to put their money to work behind it," she added. Friar's update Tuesday come roughly a month after OpenAI initially announced a $110 billion raise at a $730 billion pre-money valuation. In that wave, Amazon invested $50 billion, while Nvidia and SoftBank each committed $30 billion. In addition to its investment, Amazon announced a multi-year partnership with OpenAI. The companies will build custom models that will support Amazon's customer-facing applications. OpenAI also said that it will expand its existing $38 billion agreement with Amazon's cloud computing division by $100 billion over the next eight years. "We're super excited about this deal," OpenAI CEO Sam Altman told CNBC after the funding news last mon...
Holders Arsenal take a two-goal lead into the second leg of their Champions League quarter-final against Chelsea next week after a 3-1 win at the Emirates Stadium, with the quality of the goals, two disallowed Chelsea goals and the Blues’ injury woes the talking points. A Stina Blackstenius header and Chloe Kelly long-range effort made it 2-0 after the visitors had twice hit the post before Veerle...
Holders Arsenal take a two-goal lead into the second leg of their Champions League quarter-final against Chelsea next week after a 3-1 win at the Emirates Stadium, with the quality of the goals, two disallowed Chelsea goals and the Blues’ injury woes the talking points. A Stina Blackstenius header and Chloe Kelly long-range effort made it 2-0 after the visitors had twice hit the post before Veerle Buurman’s header was ruled out for a very soft foul on Laia Codina, but Lauren James was on hand to reduce the margin in style, curling in from outside the box. Alessia Russo restored the Gunners’ cushion but there was drama at the close, when Kadeisha Buchanan’s goal was ruled out after she ploughed her foot into Anneke Borbe as she put the ball over the line. Continue reading...
The jury agreed that Meta engaged in "unconscionable" trade practices that unfairly took advantage of the vulnerabilities of and inexperience of children. Jurors found there were thousands of violations, each counting separately toward a penalty of $375 million. (Image credit: Jim Weber/Santa Fe New Mexican)
The jury agreed that Meta engaged in "unconscionable" trade practices that unfairly took advantage of the vulnerabilities of and inexperience of children. Jurors found there were thousands of violations, each counting separately toward a penalty of $375 million. (Image credit: Jim Weber/Santa Fe New Mexican)
Chevron Corp. is warning that California is careening toward an energy crisis because of the Iran war and that the company may quit refining oil in the state unless officials roll back taxes and regulations. California, the most populous US state, is highly exposed to the disruption rippling across commodity markets because it imports about 20% of its refined fuels from Asia. Now shipments from Ch...
Chevron Corp. is warning that California is careening toward an energy crisis because of the Iran war and that the company may quit refining oil in the state unless officials roll back taxes and regulations. California, the most populous US state, is highly exposed to the disruption rippling across commodity markets because it imports about 20% of its refined fuels from Asia. Now shipments from China, South Korea, Singapore and elsewhere are at risk of slowing significantly as Iran blocks the Strait of Hormuz, leaving Asian nations struggling to meet their own demand at home. Chevron’s oil refining head Andy Walz said the potential for fuel shortages in California is his “worst fear.” “We have refineries in Asia that are having to cut crude, and so they’re going to make less products,” Walz said in an interview Tuesday. “What if San Francisco doesn’t have the jet fuel it needs? Or Los Angeles? Or maybe gasoline?” California is disconnected from the US fuel-making centers of Texas and Louisiana, essentially making it an energy island. That’s compounded by multiple refinery closures in recent years due to increased costs driven by regulations designed to fight climate change and cap oil industry profits. As a result, California consumers are more exposed than most other Americans to surging energy prices because of the Iran war. They already pay nearly $6 for a gallon of gasoline, compared with a national average of close to $4. It’s a growing political problem for Governor Gavin Newsom , a Democrat who is expected to run for president in 2028. “California has decided that they’re going to rely on imports,” Walz said at the CERAWeek by S&P Global conference in Houston. “It’s a dangerous game.” Read More: California Diesel Prices Top $7 a Gallon to Hit Record High California officials should declare an “energy emergency,” to reform its climate and tax rules and promote in-state oil production, Walz said. Without such action, Chevron could quit refining in California wi...
Traders work on the floor of the New York Stock Exchange (NYSE) at the opening bell in New York on March 24, 2026. Angela Weiss | AFP | Getty Images U.S. stock futures rose Tuesday night following a news report that the U.S. has given Iran a plan that could bring the conflict to an end. S&P 500 futures and Nasdaq 100 futures advanced 0.7% and 0.9%, respectively. Futures tied to the Dow Jones Indus...
Traders work on the floor of the New York Stock Exchange (NYSE) at the opening bell in New York on March 24, 2026. Angela Weiss | AFP | Getty Images U.S. stock futures rose Tuesday night following a news report that the U.S. has given Iran a plan that could bring the conflict to an end. S&P 500 futures and Nasdaq 100 futures advanced 0.7% and 0.9%, respectively. Futures tied to the Dow Jones Industrial Average gained 320 points, or 0.7%. During the day's regular session, all three major averages posted losses. The S&P 500 slipped 0.37%, while the Nasdaq Composite lost 0.84%. The blue-chip Dow fell 84.41 points, or 0.18%. The moves came after President Donald Trump on Tuesday said that the U.S. is " in negotiations right now " with Iran. He added that Tehran is "talking sense" and suggested it is eager to make a peace deal. The New York Times reported Tuesday afternoon that the U.S. is said to have sent Iran a peace plan to end the war, citing two unnamed officials. The 15-point plan was delivered by way of Pakistan, the outlet said. Stocks gave back some of their gains from Monday, which saw all three averages soaring more than 1% after Trump wrote in a Truth Social post that the U.S. and Iran have held "very good and productive conversations regarding a complete and total resolution of our hostilities in the Middle East." However, Iranian state media denied reports of these direct talks between the two nations. Oil prices resumed rising on Tuesday after falling the day before . Michael Kantrowitz, chief investment strategist at Piper Sandler, pointed to the commodity as the primary market driver in recent days. "We continue to see this as just an oil-driven, one-variable market," he said on CNBC's " Closing Bell: Overtime " Tuesday afternoon. "Oil and interest rates are driving the equity market. And for now, I think markets are priced appropriately for where conditions are, and we'll continue to move and react as conditions evolve." He added: "I'm less concerned a...