OpenAI has completed a deal to raise $6.6 billion in new funding, giving the artificial intelligence company a $157-billion valuation.
OpenAI has completed a deal to raise $6.6 billion in new funding, giving the artificial intelligence company a $157-billion valuation and bolstering its efforts to build the world’s leading generative AI technology. The funding round was led by Thrive Capital, the venture capital firm headed by Josh Kushner, which put in $1.3 billion. Microsoft Corp.
But he also cited reports that the startup expects to generate more than $10 billion in revenue next year, adding that a multiple of 10 times projected revenue is not exorbitant for a company about to go public, giving Google and Facebook as comparable examples. Apple Inc. did not participate in the deal, although the company was previously in talks to invest in the round, Bloomberg has reported.
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