OpenAI launches $400 million Phase II startup fund, all funded by itself

OpenAI launches its second startup fund with a size of $400 million, all funded by OpenAI's own balance sheet. OpenAI affiliated institutions have submitted documents to the US Securities and Exchange Commission showing that the fundraising for the fund has been completed. OpenAI established its first startup fund in 2021, with a scale of $175 million, all funded by external investors such as Microsoft.