According to CNBC, OpenAI announced a $110 billion funding round, a financing that's more than double the size of its last raise a year ago, which was a record for a private tech company.

Amazon invested $50 billion, Nvidia invested $30 billion and SoftBank invested $30 billion in the round, OpenAI said in a release Friday. The investment boosts OpenAI to a $730 billion pre-money valuation, which marks a big jump from its $500 billion valuation in a secondary financing in October. Other investors are expected to join as the round progresses, OpenAI said.