The round, led by Singapore sovereign wealth fund GIC and hedge fund Coatue Management, is among the largest private fundraising deals on record and comes just five months after the company closed its previous round at a $183 billion valuation.

Public First Action is taking on a PAC backed by the AI industry, supporting candidates who favor more regulation.

Move puts AI firm in opposition to ChatGPT maker OpenAI, which has advocated for less stringent AI regulations