OpenAI has reinforced its position as a digital juggernaut, concluding a massive $6.6 billion investment round and increasing its valuation to an eye-popping $157 billion.
The latest funding, led by existing investor Thrive Capital, pushes OpenAI’s total raise to $17.9 billion, according to Crunchbase.
According to The New York Times, Thrive invested approximately $1.3 billion with an exclusive option to invest up to $1 billion more at the same valuation (until 2025). Microsoft, Nvidia, SoftBank, Khosla Ventures, Altimeter Capital, Fidelity, and MGX all took part in the fundraising.
OpenAI stated that the funding would help them to stay at the forefront of AI development.
The influx comes as the corporation has been in the spotlight, owing to internal leadership upheaval and questions over its future standing.
Chief executive Sam Altman is thought to be converting the corporation to become a for-profit entity, removing the non-profit board.
While the company’s change has attracted investors, it has also alienated some of its employees and critics.
Experts said that the statistics are astonishing, but this fundraising round represents more than just a financial milestone; it demonstrates OpenAI’s leadership in the artificial intelligence field.
What began as a public curiosity with ChatGPT in late 2022 has evolved into a broader AI revolution, bringing with it tremendous investment and interest in AI infrastructure and innovation.
“The new funding will allow us to double down on our leadership in frontier AI research, increase compute capacity, and continue building tools that help people solve hard problems,” the company wrote in a blog post.
“We’re grateful to our investors for their trust in us, and we look forward to working with our partners, developers, and the broader community to shape an AI-powered ecosystem and future that benefits everyone.”
We earlier reported that Apple is no longer planning to invest in OpenAI.
This occurred on the eve of OpenAI’s $6.5 billion funding round, which still includes Microsoft and Nvidia as potential investors.
