OpenAI Announces $6.6 Billion in Funding, Nearly Doubling Valuation to $157 Billion

Artificial-intelligence tech company OpenAI said it has raised $6.6 billion in new funding, giving it a massive post-money valuation of $157 billion, almost double its previous reported valuation of $80 billion earlier this year.

The new round of funding was led by venture-capital firm Thrive Capital, with additional investors including Microsoft, Nvidia, SoftBank, Fidelity, Khosla Ventures, Altimeter Capital, United Arab Emirates-based MGX and Tiger Global. In 2024, OpenAI is projecting a $5 billion net loss on $3.7 billion in revenue, CNBC reported. Next year, the company is targeting $11.6 billion in revenue, per the report.

Related Stories

“We are making progress on our mission

→ Continue reading at Variety

Similar Articles

Advertisment

Most Popular