OpenAI is expected to raise around $6.5 billion at a $150 billion pre-money valuation.

This would be the largest venture capital round of all time, surpassing the $6 billion raised by xAI earlier this year.

Thrive Capital is leading the investment with over $1.25 billion, including from a special purpose vehicle.

Other likely backers include Apple, Nvidia, and Microsoft, while Sequoia Capital reportedly won't participate.

OpenAI is requiring a $250 million minimum investment.