OpenAI, the company behind ChatGPT, has successfully raised $6.6 billion in a funding round that brings its valuation to $157 billion. Thrive Capital led the investment, with participation from Microsoft, Nvidia, and SoftBank, among others. The funds will help OpenAI enhance its cutting-edge AI research and strengthen its computing infrastructure as it continues to develop advanced AI tools to address global challenges.
Microsoft, a long-time partner, contributed nearly $1 billion, while Nvidia and SoftBank pledged $100 million and $500 million, respectively. The funds will be used to expand OpenAI’s research into frontier AI and increase its computational resources, critical to overcoming the processing power demands of AI development.
OpenAI has over 250 million users worldwide using ChatGPT, with revenue projections set to soar to $100 billion by 2029. However, competition remains fierce, and the company faces pricing and governance challenges. Key executives, including CTO Mira Murati and co-founder Ilya Sutskever, have recently departed.
Credit: TechEconomy (Text Excluding Headline)
