The title is incorrect. The $122B includes previous promises. They raised an additional $12B of promises:

"The round totaled $122 billion of committed capital, up from the $110 billion figure that the company announced in February. SoftBank co-led the round alongside other investors, including Andreessen Horowitz and D. E. Shaw Ventures, OpenAI said."

This IPO, if anyone underwrites it, is going to fleece retail so hard. Better make it a SPAC with the help of Chamath and Cantor & Fitzgerald.