Artificial Intelligence powerhouse OpenAI is reportedly negotiating a new funding round that could elevate its valuation to over $100 billion. This potential funding influx is expected to involve significant investments from top firms and venture capitalists, potentially including Thrive Capital and Microsoft.
According to a recent Wall Street Journal report, OpenAI is in discussions to secure billions in new funding. The venture capital firm Thrive Capital is anticipated to spearhead this round, with notable contributions from tech giant Microsoft among others. Last year, OpenAI was valued at $86 billion following a share sale by its staff, a significant increase from the $29 billion valuation the year before. The firm’s current revenue exceeds $2 billion.
The upcoming funding round is poised to be the largest since Microsoft’s $10 billion investment in January 2023. Reports indicate that some shareholders are negotiating to sell their stakes at a valuation that could exceed $103 billion. OpenAI’s continued growth is driven by recent product upgrades, including a major update that allows developers to tailor GPT-40 with specific data sets, enhancing the model’s performance and reducing operational costs.
The buzz surrounding AI firms like OpenAI has influenced movements in the cryptocurrency sector. The broader market saw an uptick in AI-related tokens in Q1 2024, driven by the SEC’s approval of a spot Bitcoin ETF. Despite recent market corrections, there remains optimism about potential gains, fueled by developments in AI and positive earnings reports from companies like Nvidia.
Related topics:
Russia’s Central Bank Moves to Legalize Cryptocurrency for Qualified Investors
