Amid Ghibli Art Hype, OpenAI Secures $40bn Funding: All You Need To Know
OpenAI has secured $40 billion in new funding from SoftBank and other investors, bringing its valuation to $300 billion.
OpenAI Secures $40bn Funding
OpenAI, the creator of ChatGPT, has raised $40 billion in new funding from SoftBank Group and other investors, valuing the AI firm at $300 billion and setting a record for startup capital raising. The new valuation nearly doubles OpenAI's previous valuation of $157 billion from its October fundraising.
The monetary injection, through a collaboration with Japanese investment firm SoftBank Group, "enables us to push the frontiers of AI research even further," the San Francisco-based organization said on its website on Monday."
Their support will help us continue building AI systems that drive scientific discovery, enable personalized education, enhance human creativity, and pave the way toward AGI (artificial general intelligence) that benefits all of humanity," it added.
Commenting on the accomplishment, Sam Altman, Founder-CEO of ChatGPT, said, “Hundreds of millions of people use ChatGPT each week. This investment helps us push the frontier and make AI more useful in everyday life."
With the latest funding, OpenAI will join the ranks of the most valuable private companies, such as SpaceX, China's ByteDance, and Stripe.
