OpenAI, the company behind the popular ChatGPT chatbot, is on the verge of a massive funding round that could make it worth over $100 billion.
This news comes from sources close to the company, and it’s expected that Thrive Capital, a venture capital firm, will invest around a billion dollars.
The increased valuation also suggests that the company has potential hidden breakthroughs behind the scenes, such as Project Strawberry and Orion.
OpenAI annualized revenue reportedly surpassed $3.4 billion earlier this year. However, the company is still projected to lose nearly $5 billion by the end of the year and has already spent $8.5 billion on AI training and staffing.
Microsoft, which has already put in $10 billion into OpenAI, is also expected to join the funding round. This means they’ll be putting even more money into the company, which currently holds a 49% stake in OpenAI’s profits.
This huge investment is happening at a time when the AI industry is exploding. Big tech companies like Google, Amazon, and Meta are all racing to develop their own AI products and invest heavily in the field.
It’s clear that OpenAI is a major player in this race, and this new funding could give them a huge advantage.