OpenAI, the company behind ChatGPT, aims to raise $100 billion in a fresh funding round, insiders have told Bloomberg News. The move would make it one of the most valued startups globally.
The plan is reportedly in preliminary discussion stages, with potential investors already involved. Specifics like terms, valuation and timeline are yet to be defined.
Should the funding round succeed, OpenAI would be among the highest-valued startups in the US. According to researchers, only Elon Musk’s private airline company SpaceX outperforms amongst non-listed companies.
Earlier this month, it was reported that Elon Musk was launching a fundraising round for xAI, his startup meant to rival OpenAI. In early November, the billionaire introduced his own artificial intelligence (AI) project, named Grok. Access to information from X, of which Musk holds a majority stake, was created.
OpenAI’s surge in valuation reflects the AI frenzy it ignited a year ago after launching ChatGPT. The company uses AI to draft logical texts and even poems, quickly making waves by producing texts indistinguishable from human work. This has not only made the service popular but also contentious. Microsoft has already invested around $13 billion in the company.
