OpenAI secured a $6.6 billion investment at a $157 billion valuation to support its goal of building artificial general intelligence. Thrive Capital led the round with $1 billion and has an option to invest another $1 billion next year.
The funding is contingent on OpenAI restructuring as a for-profit company within two years. The company, currently managed by a nonprofit, is considering becoming a public benefit corporation. OpenAI asked investors to avoid backing rivals like Anthropic and Elon Musk’s xAI. The funds will support costly AI model development as OpenAI aims to expand its capabilities.
Read more – https://www.theverge.com/2024/10/2/24260457/openai-funding-round-thrive-capital-6-billion
