In a significant step toward expanding its AI ambitions, OpenAI, the company behind ChatGPT, has closed a USD 6.6 billion funding round. This funding, led by Thrive Capital, Khosla Ventures, Microsoft, and Nvidia, could propel OpenAI’s valuation to USD 157 billion. Notably, Thrive Capital has committed USD 1.2 billion with an option to invest USD 1 billion more next year. While the funding came in the form of convertible notes, its conversion hinges on structural changes at OpenAI, which has seen key executive departures, including longtime CTO Mira Murati. Despite personnel shifts, excitement among investors remains high, with OpenAI projecting revenue growth to USD 11.6 billion by 2025.
Amidst the growing financial buzz, OpenAI employees received word from CFO Sarah Friar about a potential liquidity event following this round, offering them a chance to sell shares, a decision eagerly awaited after a previous opportunity earlier this year.
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With more than 250 million users engaging with ChatGPT, OpenAI’s rise has been nothing short of meteoric, and the company is now shifting its focus toward achieving artificial general intelligence (AGI) an ambition that continues to inspire both fascination and debate among technologists and investors alike.
Read More: OpenAI Rakes In USD 6.6 Billion Funding Haul with Investment from Nvidia, Microsoft, and Others