OpenAI value surges to $157bn in funding deal

OpenAI, the maker of ChatGPT, raised $6.6bn in its latest funding round, valuing the company at $157bn. Investors include Microsoft, Nvidia, and SoftBank.

The funding will support AI research, increased computing capacity, and product development.

Despite its success, OpenAI faces internal challenges, with CEO Sam Altman restructuring it into a for-profit entity, which has sparked criticism and key executive departures, including co-founder Elon Musk and former CTO Mira Murati.

The company has 250 million weekly users and is on track to generate $3.6bn in revenue, though projected losses exceed $5bn.

Read full article