India, Feb. 27 -- OpenAI Inc. has raised $110 billion in its biggest funding round yet led by Nvidia Inc., SoftBank Group Corp. and Amazon.com Inc. That pegs the Sam Altman-led company's valuation at $730 billion ahead of a potential IPO.

Amazon.com Inc. is investing $50 billion in the financing round, OpenAI said Friday, by far the largest amount the e-commerce giant has put into any company. SoftBank Group Corp. and Nvidia Corp. each invested $30 billion, the company said. The firm's new $730 billion valuation doesn't include the money raised. Post-money, it's now valued at $840 billion.

OpenAI and rival Anthropic PBC have ramped up their fundraising this year to support costly bets on chips and data centers to support their artificia...