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02.10.2024 23:31:54
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OpenAI Raises $6.6 Bln In Funding To Advance Its AI Mission
(RTTNews) - OpenAI announced that the company has raised $6.6 billion in new funding at a $157 billion post-money valuation to accelerate the company's mission.
With the new funding, the tech company intends to double down on its leadership in frontier AI research, increase compute capacity, and continue building tools that help people solve hard problems, OpenAI stated in a blog post.
The funding was led by previous investor Thrive Capital, which invested about $1 billion in the company, with an option to invest upto $1 billion more at the same valuation, as per The New York Times.
Prominent companies like Microsoft, Nvidia, SoftBank, Khosla Ventures, Altimeter Capital, Fidelity, and MGX also participated in the fundraising, Techcrunch reports.
"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," OpenAI said.
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