- Barely a month after a dramatic leadership crisis, OpenAI is reportedly in the market for a fresh round of investment.
- Should the fundraising plan go as planned, it could value the ChatGPT owner at $100 billion or more, Bloomberg reported.
- That would make it the second-biggest US startup by valuation, after Elon Musk’s SpaceX.
Barely a month after navigating a leadership crisis that hogged global headlines, OpenAI, the company behind ChatGPT, is back on track with big plans.
OpenAI is in talks with investors to secure fresh funding that could value the company at $100 billion or more, Bloomberg reported, citing people it didn’t identify.
A successful round of fundraising with such terms could see the company become the second-largest US startup based on valuation, after Elon Musk’s SpaceX, according to the report.
OpenAI has been at the forefront of the artificial-intelligence revolution that captured the world’s fancy this year following the smashing debut of its chatbot ChatGPT. The company got a further boost after it received a $10 billion investment from Microsoft at the start of 2023.
The San Francisco-based tech firm found itself in rough waters last month following the shocking ouster of its star CEO Sam Altman by the board. The event triggered such a wave of backlash from investors and the company’s own employees that in just five days, Altman was reinstated and a new board was put in place.
OpenAI has also held talks with G42, an Abu Dhabi-based AI firm, for mobilizing capital for a chip project, Bloomberg said. It is seeking $8 billion to $10 billion in funding for the venture, code-named Tigris, according to the report.
Investor frenzy around AI helped the US stock market stage an impressive rally this year, defying historically high interest rates and recession predictions. The benchmark S&P 500 index has gained 24% so far in 2023, while the tech-heavy Nasdaq 100 surged a stunning 53%.
OpenAI didn’t immediately respond to Business Insider’s request for comment.
Source link
