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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Technology

Technology

OpenAI in talks to raise new funding at $100 bln valuation – Bloomberg News

OpenAI
Photo: Open AI Photo: Open AI
OpenAI
Photo: Open AI Photo: Open AI

Listen to the article now

In a story that appeared on Friday, Bloomberg News cited sources with knowledge of the situation as saying that OpenAI is currently in preliminary discussions to secure a new round of investment at a valuation of at least $100 billion.

The article also stated that the terms, value, and timing of the fundraising round have not yet been completed and that there is still the possibility that they may be altered.

According to the article, OpenAI has also engaged in conversations with G42, a company located in Abu Dhabi, to obtain capital for a new chip initiative.

In November last year, the non-profit organization that governs OpenAI started the frenzy for generative artificial intelligence by publishing ChatGPT. Billions of dollars from Microsoft (MSFT.O) made this possible.

Reuters’ requests for comments received no prompt responses from OpenAI or Microsoft. When November came to a close, OpenAI CEO Sam Altman announced that Microsoft would be joining the firm’s board of directors in an observer capacity.

On November 17, OpenAI fired Altman without indicating the reason for his dismissal, which caused investors and staff to become concerned. Within four days, he was restored with the assurance that a new board would be appointed.

OpenAI, a prominent AI research lab and organization, has attracted significant attention and investment due to its advancements in artificial intelligence. It has received funding from various sources in the past, including major tech companies and investors.


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