OpenAI raises £5 billion in largest ever funding round
5 months, 2 weeks ago

OpenAI raises £5 billion in largest ever funding round

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy ChatGPT maker OpenAI has raised 6.6 billion US dollars in its latest funding round, the largest such deal of all time, valuing the company at 157 billion dollars. The deal makes OpenAI one of the most valuable start-ups in the world, with the funding round topping the six billion dollars raised by Elon Musk’s xAI earlier this year. We’re grateful to our investors for their trust in us, and we look forward to working with our partners, developers, and the broader community to shape an AI-powered ecosystem and future that benefits everyone OpenAI OpenAI said the new funding will allow it to “double down on our leadership in frontier AI research”, as well as increase its compute capacity and continue building new tools to help users solve problems. “By collaborating with key partners, including the US and allied governments, we can unlock this technology’s full potential.” Chief executive Sam Altman is said to be restructuring the company away from the non-profit entity it was founded as, which has led to criticism from some quarters – including staff who have left the business – with some citing concerns that the move to a for-profit model could come at the expense of safety.

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