After a turbulent year for ChatGPT's creator, OpenAI has reached an agreement with investors that is purportedly valued at $80 billion or more for the California start-up.
The deal would have roughly tripled the business's worth in less than ten months. OpenAI has not officially confirmed the allegation, which was first published by The New York Times. The company is a global leader in generative artificial intelligence.
According to the deal report, Thrive Capital would be the lead investor in the San Francisco-based company's sale of current shares.
Three months after the company weathered a severe crisis—the firing of co-founder and CEO Sam Altman, followed by his return within days—it would allow executives and staff to sell shares at a highly favourable price.
When OpenAI launched its ChatGPT programme online in late 2022, it spearheaded a revolution in artificial intelligence.
The interface's instant success generated a lot of interest in the cutting-edge technology, which could generate images, audio, and text on demand.
Microsoft, which had previously invested in the startup, increased its support. Over the last three years, the software behemoth has invested over $13 billion on OpenAI.
Because of its intense rivalry with Google in creating and releasing new tools that leverage AI's generative powers, the US Federal Trade Commission (FTC) opened an inquiry into the massive sums of money that Microsoft, Google, and Amazon had invested in the niche start-ups in January.
The non-profit OpenAI was established in 2015 encountered a significant difficulty in November.
Sam Altman, one of the more colourful characters in Silicon Valley, was sacked by the board when it was alleged that he lacked "transparency."
Microsoft made an attempt to hire him in the days that followed, but executives and most of the OpenAI staff insisted that those responsible for Altman's termination step down and that he be brought back on board.
Altman returned to work within the week, and a number of board members resigned.
OpenAI, the company behind ChatGPT and the image-generating DALL-E, unveiled "Sora," a new tool that can produce lifelike videos up to a minute on demand.
The Times reports that OpenAI reached a similar deal early in the previous year, estimated at $29 billion, with venture capital firms Thrive Capital, Sequoia Capital, and Andreessen Horowitz, which was given a value of $29 billion.
(Source:www.ndtv.com)
The deal would have roughly tripled the business's worth in less than ten months. OpenAI has not officially confirmed the allegation, which was first published by The New York Times. The company is a global leader in generative artificial intelligence.
According to the deal report, Thrive Capital would be the lead investor in the San Francisco-based company's sale of current shares.
Three months after the company weathered a severe crisis—the firing of co-founder and CEO Sam Altman, followed by his return within days—it would allow executives and staff to sell shares at a highly favourable price.
When OpenAI launched its ChatGPT programme online in late 2022, it spearheaded a revolution in artificial intelligence.
The interface's instant success generated a lot of interest in the cutting-edge technology, which could generate images, audio, and text on demand.
Microsoft, which had previously invested in the startup, increased its support. Over the last three years, the software behemoth has invested over $13 billion on OpenAI.
Because of its intense rivalry with Google in creating and releasing new tools that leverage AI's generative powers, the US Federal Trade Commission (FTC) opened an inquiry into the massive sums of money that Microsoft, Google, and Amazon had invested in the niche start-ups in January.
The non-profit OpenAI was established in 2015 encountered a significant difficulty in November.
Sam Altman, one of the more colourful characters in Silicon Valley, was sacked by the board when it was alleged that he lacked "transparency."
Microsoft made an attempt to hire him in the days that followed, but executives and most of the OpenAI staff insisted that those responsible for Altman's termination step down and that he be brought back on board.
Altman returned to work within the week, and a number of board members resigned.
OpenAI, the company behind ChatGPT and the image-generating DALL-E, unveiled "Sora," a new tool that can produce lifelike videos up to a minute on demand.
The Times reports that OpenAI reached a similar deal early in the previous year, estimated at $29 billion, with venture capital firms Thrive Capital, Sequoia Capital, and Andreessen Horowitz, which was given a value of $29 billion.
(Source:www.ndtv.com)
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