OpenAI Nears Funding That Could Raise Its Valuation to $100 Billion
OpenAI is close to securing new funding valued at over $100 billion, led by Thrive Capital,
which will make it one of the most valuable startups in the world.
This funding will help enhance its computing power and support its expansion in generative artificial intelligence.
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Thrive Capital
Thrive Capital Leads $1 Billion Investment Round
OpenAI is close to securing new funding valued at over $100 billion,
according to informed sources, with expectations that Thrive Capital will lead this round with an investment of around $1 billion.
Sarah Friar, OpenAI’s CFO, informed employees in an internal memo on Wednesday that the company is seeking new capital,
but did not disclose further details, according to the sources.
New Funding
New Funding Enhances OpenAI’s Capabilities and Supports AI Expansion
This move comes as part of OpenAI’s efforts since last December to raise funding that could increase its valuation to $100 billion or more, according to earlier reports from Bloomberg News.
This funding is expected to make the company one of the most valuable startups globally,
reflecting the growing demand for generative AI technologies.
OpenAI has gained widespread recognition through its ChatGPT program, backed by Microsoft,
which captured public interest due to its ease of use.
This success has accelerated the arms race among major tech companies,
which are working to integrate AI technologies into their products,
as well as supporting and funding other promising startups.
Friar noted in her memo that the new funding would help bolster computing capacity and cover rising operational expenses.
She also mentioned that the company plans to launch a tender later this year,
allowing employees to sell some of their shares, though these plans are still in early stages and details have not yet been confirmed.
The Wall Street Journal previously reported on Thrive Capital’s plan to invest in OpenAI.
OpenAI Nears Funding That Could Raise Its Valuation to $100 Billion