OpenAI raises an additional $6.6B at a $157B valuation
In February 2024, the artificial intelligence company was valued at approximately $80 billion and has grown considerably since that time.
OpenAI — the company behind the ChatGPT large language model — has raised an additional $6.6 billion in capital from institutional investors, bringing the private company’s valuation to $157 billion.
The funding round included venture capital firms Thrive Capital and Khosla Ventures as well as tech giants Nvidia and Microsoft.
OpenAI raised the funds by offering investors convertible debt that will convert to equity if the company manages to successfully pivot to a for-profit business entity without restrictions such as profit caps on investment returns and reliance on nonprofit governance structures.
In February 2024, the artificial intelligence company was valued at approximately $80 billion and has grown considerably since that time.
OpenAI — the company behind the ChatGPT large language model — has raised an additional $6.6 billion in capital from institutional investors, bringing the private company’s valuation to $157 billion.The funding round included venture capital firms Thrive Capital and Khosla Ventures as well as tech giants Nvidia and Microsoft.OpenAI raised the funds by offering investors convertible debt that will convert to equity if the company manages to successfully pivot to a for-profit business entity without restrictions such as profit caps on investment returns and reliance on nonprofit governance structures.Read more