New Delhi, April 1 -- OpenAI has completed the largest private funding round, raising $122 billion ahead of its blockbuster initial public offering (IPO) expected to be launched by the end of this year.

The deal, which values the ChatGPT-maker at $852 billion, aims to support its costly push to manufacture more chips, build data centres, and hire talent as the artificial intelligence race heats up. The company's valuation includes the money raised.

As part of the financing, the AI company raised more than $3 billion from big investors through banks. OpenAI also said that it will be included in several exchange-traded funds (ETFs) managed by ARK Invest, the investment firm led by well-known investor Cathie Wood.

Most of the funding, whi...