CosmicTaco

OpenAI Secures Record $6.6B Funding, Valuation Soars to $157B

CosmicTaco · 2024-10-02T23:11:21.939491+05:30

- OpenAI, the creator of ChatGPT, has raised $6.6 billion in a funding round led by Thrive Capital, increasing its valuation to $157 billion. - The funding will be used to expand AI research, increase compute capacity, and develop tools to solve complex problems. - OpenAI has reportedly spent around $7 billion on model training and $1.5 billion on staffing. - The company's revenue is projected to reach $100 billion by 2029, but it faces stiff competition from other AI startups. - OpenAI is considering a shift from nonprofit to for-profit governance to attract more investments. Source: [Techcrunch](https://techcrunch.com/2024/10/02/openai-raises-6-6b-and-is-now-valued-at-157b/)

OpenAI, the creator of ChatGPT, has raised $6.6 billion in a funding round led by Thrive Capital, increasing its valuation to $157 billion.
The funding will be used to expand AI research, increase compute capacity, and develop tools to solve complex problems.
OpenAI has reportedly spent around $7 billion on model training and $1.5 billion on staffing.
The company's revenue is projected to reach $100 billion by 2029, but it faces stiff competition from other AI startups.
OpenAI is considering a shift from nonprofit to for-profit governance to attract more investments.

Source: Techcrunch