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OpenAI is nearing a deal to raise about $10 billion from investors including MGX, Coatue Management and Thrive Capital, with Altimeter Capital also planning to participate, according to people familiar. The round values OpenAI at $730 billion, excluding new funds, and could lift its total funding round to about $120 billion. The deal may close by month-end and would support spending on computing power and talent, potentially bringing valuation to roughly $850 billion including capital raised.

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