Thrive Capital is committing over $1 billion to OpenAI's ongoing $6.5 billion fundraising initiative, along with a unique opportunity not available to other investors: the chance to invest an additional $1 billion next year at the same valuation, contingent upon the AI company's achievement of a specific revenue target, according to sources familiar with the situation as of Friday. 

OpenAI anticipates a dramatic increase in revenue, projecting it will rise to $11.6 billion next year from an estimated $3.7 billion in 2024, as reported by anonymous sources. The company is also expected to incur losses of up to $5 billion this year, largely influenced by its spending on computing resources, which may fluctuate, one source noted.

This funding round, structured as convertible debt, is anticipated to conclude by the end of next week and could assign OpenAI a valuation of $150 billion, solidifying its position as one of the most valuable private enterprises globally. Achieving this valuation hinges on a complex restructuring process aimed at relinquishing control from its non-profit board and lifting the cap on investor returns, a plan initially disclosed by Reuters. There is currently no defined timeline for when this conversion might be finalized.

Thrive Capital, which previously led OpenAI's funding efforts, is contributing $1.2 billion through a mix of its own capital and a special purpose vehicle designed for smaller investors. Other participants in this funding round include Microsoft, Apple, Nvidia, and Khosla Ventures. 

The other investors were not offered the same future investment option at the current valuation, according to sources. OpenAI's valuation has rapidly escalated, and should this trend continue, Thrive may have the opportunity to increase its investment next year at a more favorable price.

Reuters was unable to ascertain the specific revenue target linked to Thrive's investment option, which was established by Joshua Kushner. Both Thrive and OpenAI have opted not to comment on the matter. OpenAI's revenue forecasts significantly surpass CEO Sam Altman's earlier estimate of $1 billion for this year, with primary revenue streams coming from corporate service sales and subscriptions to its chatbot.

The primary offering, ChatGPT, is projected to generate $2.7 billion in revenue this year, a significant increase from $700 million in 2023. This chatbot service operates on a subscription model, charging users $20 per month, and currently boasts approximately 10 million paying subscribers.

The financial information and specifics regarding Thrive's supplementary option were initially disclosed by the New York Times on Friday.