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OpenAI Closes $300 Mn Funding Round At $27-29 Bn Valuation: Report
According to a report, venture capital (VC) firms including Tiger Global, Sequoia Capital, Andreessen Horowitz, Thrive and K2 Global picked up shares in OpenAI in the share sale
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ChatGPT-creator and artificial intelligence company OpenAI has closed USD 300 million in share sale, according to a TechCrunch report. The round pushes OpenAI’s valuation to USD 27-29 billion.
According to the report, venture capital (VC) firms including Tiger Global, Sequoia Capital, Andreessen Horowitz, Thrive and K2 Global picked up shares in OpenAI in the share sale.
Earlier this year, Microsoft made a large investment in the AI company led by CEO Sam Altman. The Redmond-based tech major reportedly invested USD 10 billion.
The interest in OpenAI has surged significantly after the wild popularity of its AI chatbot ChaptGPT, which has brought AI to the centre of very technology discussion. ChatGPT was launched in late November 2022, since then OpenAI has been the dominant figurehead in the rapidly evolving Generative AI landscape which is expected to contribute about USD 7 trillion to world’s GDP by 2030 (Goldman Sachs report).
The popularity and demand of OpenAI’s offerings has also set off an AI race, prompting large companies including Google and China’s Baidu, among others, to accelerate their developments around the technology.