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OpenAI closes $6.6bn funding round

October 3, 2024

OpenAI, the maker of ChatGPT, has raised $6.6 billion (€5.98bn) in its latest funding round.

Funding came from the likes of new investor Nvidia, as well as returning investors Microsoft and venture capital firms Thrive Capital and Khosla Ventures. It is also reported that Altimeter Capital, Fidelity, SoftBank and Abu Dhabi’s state-backed investment firm MGX participated in the funding round.

The deal gave the tech company a value of $157 billion (£118bn), making it one of the most valuable start-ups in the world.

OpenAI said in a press statement: “We are making progress on our mission to ensure that artificial general intelligence benefits all of humanity. Every week, over 250 million people around the world use ChatGPT to enhance their work, creativity, and learning. Across industries, businesses are improving productivity and operations, and developers are leveraging our platform to create a new generation of applications. And we’re only getting started.”

“The new funding will allow us to double down on our leadership in frontier AI research, increase compute capacity, and continue building tools that help people solve hard problems.”

“We aim to make advanced intelligence a widely accessible resource. We’re grateful to our investors for their trust in us, and we look forward to working with our partners, developers, and the broader community to shape an AI-powered ecosystem and future that benefits everyone. By collaborating with key partners, including the US and allied governments, we can unlock this technology’s full potential,” the company added.

Categories: AI, Articles, Business, Funding

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