OpenAI on the way to $100 billion
- December 26, 2023
- 0
OpenAI is launching an investment round to raise fresh capital. The company could use these resources to develop its own chips. According to Bloomberg, OpenAI has started discussions
OpenAI is launching an investment round to raise fresh capital. The company could use these resources to develop its own chips. According to Bloomberg, OpenAI has started discussions
OpenAI is launching an investment round to raise fresh capital. The company could use these resources to develop its own chips.
According to Bloomberg, OpenAI has started discussions with investors. A deadline by which OpenAI will seek to close its capital round or the exact amount the company hopes to raise are not known. An additional capital infusion could push OpenAI’s total value to over $100 billion. This would make OpenAI the second most valuable US startup behind Elon Musk’s space company SpaceX.
Today, Microsoft is one of the most important investors in OpenAI. The software giant has already pumped more than ten billion dollars into OpenAI, but the company wants to attract even more and new investors. For example, a structure should be developed in which employees can sell their own shares. This transaction would increase OpenAI’s value to at least $85 billion and would be completed in early January.
OpenAI could use the additional capital to produce its own AI chips. Like many companies, OpenAI relies on Nvidia for specialized AI hardware. In order to become more independent, the company wants to set up a chip company with an industry colleague from Abu Dhabi. OpenAI is negotiating with this party for an investment that could amount to up to ten billion dollars.
After a turbulent time, the focus at OpenAI can return to the windshield. In November, there was turmoil among the company’s top management when the board unexpectedly fired Sam Altman. Altman won the power struggle and stayed on board while the rebellious board members had to leave. Microsoft’s interference may yet be over. Competitor Anthropic was able to raise new millions of dollars last week.
Source: IT Daily
As an experienced journalist and author, Mary has been reporting on the latest news and trends for over 5 years. With a passion for uncovering the stories behind the headlines, Mary has earned a reputation as a trusted voice in the world of journalism. Her writing style is insightful, engaging and thought-provoking, as she takes a deep dive into the most pressing issues of our time.