OpenAI in Talks for Funding Round Valuing It Above $100 Billion
OpenAI is in talks to raise several billion dollars in a new funding round that would value the startup behind ChatGPT above $100 billion, WSJ reported Wednesday, citing sources. From the report: Venture-capital firm Thrive Capital is leading the round and will invest about $1 billion, according to people familiar with the matter. Microsoft is also expected to put in money. The new funding round would be the biggest infusion of outside capital into OpenAI since Microsoft invested around $10 billion in January 2023.
Since then, an arms race has developed in Silicon Valley to build the most advanced artificial-intelligence systems in an effort to dominate an industry many say will revolutionize the economy. OpenAI was last valued at $86 billion late last year, when employees sold existing shares. Thrive, a New York-based firm founded 15 years ago by Josh Kushner, already has a close relationship with OpenAI and its chief executive, Sam Altman. It has put several hundred million dollars into the startup since last year.
Read more of this story at Slashdot.
OpenAI is in talks to raise several billion dollars in a new funding round that would value the startup behind ChatGPT above $100 billion, WSJ reported Wednesday, citing sources. From the report: Venture-capital firm Thrive Capital is leading the round and will invest about $1 billion, according to people familiar with the matter. Microsoft is also expected to put in money. The new funding round would be the biggest infusion of outside capital into OpenAI since Microsoft invested around $10 billion in January 2023.
Since then, an arms race has developed in Silicon Valley to build the most advanced artificial-intelligence systems in an effort to dominate an industry many say will revolutionize the economy. OpenAI was last valued at $86 billion late last year, when employees sold existing shares. Thrive, a New York-based firm founded 15 years ago by Josh Kushner, already has a close relationship with OpenAI and its chief executive, Sam Altman. It has put several hundred million dollars into the startup since last year.
Read more of this story at Slashdot.