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Summarize
OpenAI seeks billions in funding at over $100 billion valuation
Thrive Capital should spearhead the funding round

OpenAI seeks billions in funding at over $100 billion valuation

Aug 29, 2024
10:04 am

What's the story

OpenAI, the tech start-up behind the widely used ChatGPT, is reportedly in advanced talks to raise billions of dollars in a new funding round. According to The Wall Street Journal, this potential financial injection could raise the company's valuation to over $100 billion. The anticipated funding round is tipped to be spearheaded by venture capital firm Thrive Capital, with a significant investment of around $1 billion.

Participation

Microsoft may join funding round

In addition to Thrive Capital's potential contribution, tech giant Microsoft, an existing backer of OpenAI, is also tipped to participate in the funding round. However, neither OpenAI nor Microsoft have issued any official statements regarding their involvement in the funding round as of now.

AI impact

ChatGPT drives OpenAI's popularity

ChatGPT, a chatbot developed by OpenAI that can generate human-like responses based on user prompts, has significantly contributed to the company's popularity. This innovative technology has played a crucial role in driving up the valuation of the San Francisco-based firm. The potential funding round and subsequent increase in valuation, underscore the growing interest and investment in artificial intelligence technologies.