OpenAI has finalized a $300 million share sale with major venture capital firms, estimating its worth between $27 billion and $29 billion.
In Brief
In its latest investment round, OpenAI drew in several top-tier venture capitalists like Tiger Global, Sequoia Capital, Andreessen Horowitz, Thrive, K2 Global, and Founders Fund, raising its market valuation to an impressive $27-$29 billion.
At present, external investors control more than 30% of OpenAI's shares.
The revenue generated from this share sale is critical for OpenAI, allowing the company to persist with its groundbreaking work in artificial intelligence and machine learning.
OpenAI, widely recognized for its highly successful ChatGPT chatbot, has made headlines by completing a significant share sale worth over $300 million with several key venture capitalists. Reports from various sources confirm this valuation is pegged between $27 billion and $29 billion. TechCrunch The recent share sale involved a consortium of venture capital firms including Tiger Global, Sequoia Capital, Andreessen Horowitz, Thrive, and K2 Global, with Founders Fund also reported to be involved, based on insights shared with TechCrunch. It's important to note that this funding round is separate from an earlier investment earlier this year. Currently, external stakeholders own over 30% of the organization.
This fresh influx of capital is crucial for OpenAI, as it seeks to maintain its pioneering role in artificial intelligence and machine learning, a field it has led since its founding in 2015, including the development of the acclaimed GPT language models. Microsoft’s $10 billion investment The GPT-3 and GPT-4 models have become synonymous with advanced text generation, demonstrating an uncanny ability to print text that closely mimics human writing patterns. Their applications range from enhancing chatbots to generating automated content, showcasing their versatility.
In February alone, ChatGPT attracted over 1 billion visitors. This figure doesn't even consider users accessing the platform through third-party services. Recent data illustrates that the chatbot has reached a staggering milestone of 100 million monthly active users, outpacing even TikTok in speed to reach this level of engagement. These statistics underscore ChatGPT's profound influence within the realm of artificial intelligence and its widespread uptake around the world. ChatGPT .
A student completed his thesis in just one day with the help of ChatGPT.
ChatGPT had Google AI has introduced an innovative breakthrough: the first-ever text-to-music generator named AudioLM. reports An Indian cryptocurrency tax service has experienced remarkable growth, setting new records.
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