ChatGPT: OpenAI Market Valuation worth $300 billion
OpenAI announced on Monday that it is raising a new funding round of $40 billion to be led by the SoftBank Group of Japan
OpenAI announced on Monday that it is raising a new funding round of $40 billion to be led by the SoftBank Group of Japan. This put the artificial intelligence startup’s market valuation at $300 billion, placing it among the most valuable privately owned companies.
The business stated that it plans to provide its 500 million weekly users with “increasingly powerful tools” and that the new Softbank funding also advanced its development of artificial general intelligence.
The company’s proprietary tool, ChatGPT, which holds the record of being one of the most sought-after AI chatbots across the globe, went viral on the internet over the past week after a fresh tweak updated its image-generation feature.
The new valuation order of $300 billion is greater than OpenAI’s valuation of $157 billion reached in October after the company closed a funding activity of $6.6 billion.
The news about the investment was gathered earlier in March. The two firms are also expected to spearhead Project Stargate, an AI data center infrastructure investment worth $500 billion, which aims to be established in the United States.
Softbank’s funding is anticipated to make the Japanese firm OpenAI’s largest investor after Microsoft, which has supported the AI startup since 2019.
The increase in funding comes at the same time as rapid growth in the use of AI in both commercial and consumer segments.
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