OpenAI secures $6.6 billion Funding to boost ChatGPT & make it Smarter
OpenAI, the company behind ChatGPT, has raised $6.6 billion from investors at a $157 billion valuation. The company stated in a blog post that the funds will be utilized to expand leadership in AI research, boost compute capacity, and accelerate product development.
The US chipmaker behemoth NVIDIA has joined the investment round, joining previous backers Thrive Capital, Khosla Ventures, and Microsoft, according to Reuters.
The report cited sources with knowledge of the situation as saying that Thrive Capital secured the right to invest an additional $1 billion at the same valuation next year, provided the AI firm meets a specific revenue target. Thrive Capital pledged approximately $1.2 billion through a combination of its own funds and a special purpose vehicle for smaller investors.
The Chief Technology Officer, Mira Murati, resigned after serving in that capacity for six and a half years, which led to the closure of these funds.
A number of other senior executives have also left the company, including vice president of research Barret Zoph and chief research officer Bob McGrew.
Co-founder Ilya Sutskever left OpenAI in May to launch Safe Superintelligence Inc. (SSI), a new AI business he co-founded with former OpenAI engineer Daniel Levy and Y Combinator affiliate Daniel Gross.
Regarding to this, the company shared in a blog post, “We’ve raised $6.6B in new funding at a $157B post-money valuation to accelerate progress on our mission. The new funding will allow us to double down on our leadership in frontier AI research, increase compute capacity, and continue building tools that help people solve hard problems," read the company’s blogpost.
Further the company adds, “We aim to make advanced intelligence a widely accessible resource. We’re grateful to our investors for their trust in us, and we look forward to working with our partners, developers, and the broader community to shape an AI-powered ecosystem and future that benefits everyone. By collaborating with key partners, including the US and allied governments, we can unlock this technology's full potential”.
The US chipmaker behemoth NVIDIA has joined the investment round, joining previous backers Thrive Capital, Khosla Ventures, and Microsoft, according to Reuters.
The report cited sources with knowledge of the situation as saying that Thrive Capital secured the right to invest an additional $1 billion at the same valuation next year, provided the AI firm meets a specific revenue target. Thrive Capital pledged approximately $1.2 billion through a combination of its own funds and a special purpose vehicle for smaller investors.
The Chief Technology Officer, Mira Murati, resigned after serving in that capacity for six and a half years, which led to the closure of these funds.
A number of other senior executives have also left the company, including vice president of research Barret Zoph and chief research officer Bob McGrew.
Co-founder Ilya Sutskever left OpenAI in May to launch Safe Superintelligence Inc. (SSI), a new AI business he co-founded with former OpenAI engineer Daniel Levy and Y Combinator affiliate Daniel Gross.
Regarding to this, the company shared in a blog post, “We’ve raised $6.6B in new funding at a $157B post-money valuation to accelerate progress on our mission. The new funding will allow us to double down on our leadership in frontier AI research, increase compute capacity, and continue building tools that help people solve hard problems," read the company’s blogpost.
Further the company adds, “We aim to make advanced intelligence a widely accessible resource. We’re grateful to our investors for their trust in us, and we look forward to working with our partners, developers, and the broader community to shape an AI-powered ecosystem and future that benefits everyone. By collaborating with key partners, including the US and allied governments, we can unlock this technology's full potential”.
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