đšOpenAI Seeks $6.5 Billion Funding To Reach $150 Billion Valuationđš
According to Cointelegraph, artificial intelligence startup OpenAI is in advanced discussions with investors to secure $6.5 billion in funding, which would elevate its valuation to $150 billion. A Bloomberg report from September 11, citing sources familiar with the matter, indicates that this new valuation does not include the funds being raised. Additionally, OpenAI is seeking an extra $5 billion in debt from banks through a revolving credit facility, allowing the company to draw, repay, and redraw funds as needed.
The new valuation significantly surpasses the $86 billion valuation from the companyâs tender offer in February. Thrive Capital is leading the funding round with a $1 billion investment, as reported by The Wall Street Journal. Tech giants such as Nvidia and Apple are among the interested investors, alongside Microsoft, which has invested $13 billion in OpenAI since 2019 and currently owns 49% of the company. The specific amounts that Apple, Nvidia, and Microsoft will invest remain undisclosed.
OpenAI has been working to boost its revenue, with annualized sales reaching approximately $3.4 billion as of May. The company has also seen growth in its user base, surpassing 1 million users across ChatGPT Enterprise, Teams, and Edu, marking a 67% increase since April, according to Reuters. To capitalize on this growth, OpenAI plans to introduce more expensive premium subscription models, potentially costing up to $2,000 per month for its forthcoming large language models, Strawberry and Orion.
The competition in AI development continues to drive startups to raise substantial funds. On September 4, former OpenAI chief scientist Ilya Sutskever secured $1 billion for a new AI startup named Safe Superintelligence, which aims to develop highly intelligent and safe AI systems. Investors in this initiative include a16z, Sequoia, DST Global, NFDG, and SV Angel.#nvidia #apple #openai #Fetch_ai #fet.ai
