Microsoft, Nvidia lead $6.6B funding deal in OpenAI at $157B valuation

Published October 2nd, 2024 - 10:54 GMT
Microsoft, Nvidia lead $6.6B funding deal in OpenAI at $157B valuation
Hand pointing at SearchGPT page seen on the smartphone and official OpenAI company logo on background. (Shutterstock)

ALBAWABA - At a value of $157 billion, OpenAI, ChatGPT maker, has successfully completed its long-awaited financing round. The company secured $6.6 billion in capital from a diverse group of investment firms and other technology corporations.

Although OpenAI did not identify the investors in the news statement that was issued on Wednesday, CNBC cites a source who is familiar with the situation saying that the round was headed by Thrive Capital and featured investments from Microsoft, which was already a backer, as well as chipmaker Nvidia and SoftBank among others.

The company said in a blogpost “Every week, over 250 million people around the world use ChatGPT to enhance their work, creativity, and learning. Across industries, businesses are improving productivity and operations, and developers are leveraging our platform to create a new generation of applications. And we’re only getting started.”

The AI giant underlined that it will be possible to realize the full potential of the artificial intelligence technology via the collaboration of major partners, which includes the governments of the United States and its allies.

“We aim to make advanced intelligence a widely accessible resource. 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 added.

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