đ OpenAI Raises $6.6B at $157B Valuation
In an astonishing leap, OpenAI just raised $6.6 billion in fresh capital, catapulting its valuation to a jaw-dropping $157 billion! Heavyweights like Microsoft, Nvidia, Thrive Capital, and Khosla Ventures backed the latest round. But thatâs not all: OpenAI is eyeing a radical shift from nonprofit to a fully for-profit model, aiming to ditch profit caps and soar higher than ever.
The Plan: OpenAIâs convertible debt strategy could flip into equity if its for-profit transformation clears regulatory hurdles. However, Elon Musk has slammed this move, calling it âillegal,â as questions arise over the legality of restructuring a nonprofit into a profit-focused giant. But California laws seem to allow thisâthrough a complex conversion to a for-profit stock corporation or LLC.
Whatâs Next? To justify this sky-high valuation, OpenAI is rolling out ambitious high-end subscriptions, with plans possibly priced at $2,000/month. The AI leader is now serving over 1 million users, a mind-blowing 67% increase since April 2024.
Upgrades Galore! As if that werenât enough, OpenAI just supercharged ChatGPT with vision and speech capabilities. The AI can now process images better and engage in voice-to-voice conversations, mimicking natural speech. Developers, get ready for a smoother ride with the Realtime API, making AI applications smarter and more responsive. The future of AI is hereâand itâs moving faster than ever!
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