OpenAI Eyes $100B Valuation With New Funding: Report

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As a seasoned analyst with over two decades of experience in tech and finance industries, I must admit that the news about OpenAI seeking new funding and potentially hitting a $100 billion valuation has piqued my interest. Having closely followed the meteoric rise of companies like Facebook, Google, and Tesla, I can attest to the transformative power of a good idea, strong leadership, and deep pockets.

Reports indicate that the AI company, OpenAI, is in discussions for a fresh round of investment, potentially pushing its worth beyond $100 billion. This upcoming funding round is likely to attract big-name corporations and venture capitalists. Meanwhile, cryptocurrency users are contemplating the possible repercussions on AI-related coins amidst the ongoing market slump.

OpenAI Seeks New Funding 

It’s been reported that OpenAI may be securing fresh funding, potentially pushing its value to a staggering $100 billion. A recent Wall Street Journal article suggests that this funding round could bring in billions, according to sources involved in the situation. The report also indicates that VC firm Thrive Capital is likely to headline the investment, with tech titan Microsoft and other large firms anticipated to join in.

Last year, the corporation that owns ChatGPT was appraised at an impressive $86 billion, following the sale of shares by its employees. This rapid growth and heightened interest in artificial intelligence led to a valuation of $29 billion for OpenAI the year before, with current earnings exceeding $2 billion. It is anticipated that Thrive Capital will contribute $1 billion, along with other notable companies, making this potentially the largest financing round since Microsoft announced its $10 billion investment in January 2023.

According to the latest report, certain shareholders are in discussions to offload their ownership of the company for a price high enough to push its total worth past the $103 billion mark. This company’s growth continues to excite many as it keeps introducing new improvements to its products. Most recently, OpenAI unveiled a significant update that enables developers to personalize GPT-40 using specific datasets. This upgrade is expected to boost the model’s performance while simultaneously cutting costs.

Impact on AI Coins 

The buzz around AI companies has sparked movements in the crypto space, especially with the activities of top firms. In Q1 2024, AI coins soared following the wider market upturn after the approval of spot Bitcoin ETF by the United States Securities and Exchange Commission (SEC). Despite the recent correction, most users have pointed to possible highs on the back of positive developers. AI chip manufacturer, Nvidia announced better-than-expected Q2 earnings leading to wider speculations. 

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2024-08-29 01:15