OpenAI is launching a second startup fund, dedicating $400 million from its own balance sheet to invest in early-stage AI companies. An affiliate of the ChatGPT maker filed paperwork with the U.S. Securities and Exchange Commission on Wednesday indicating it has raised the sophomore fund.

This marks a significant shift from the company's first startup fund, a $175 million haul launched in 2021. For that initial fund, OpenAI itself was not an investor; instead, it raised capital from outside investors, including Microsoft.

The new fund signals OpenAI's deepening commitment to shaping the AI ecosystem by directly backing emerging startups. By acting as the sole investor, the company retains full control over investment decisions and strategic direction.