- OpenAI has secured $6.6 billion from investors bringing its value to $157 billion
- This would make OpenAI one of the most valuable private companies in the world
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OpenAI has secured $6.6 billion from investors, bringing its value to $157 billion, making the company one of the most valuable private companies in the world.
One of OpenAI’s earliest and biggest corporate backers, Microsoft, returned as investors, with Thrive Capital and Khosla Ventures also returning and new participation from technology company Nvidia.
The funds come at a time of change for OpenAI with recent shifts, such as the departure of its chief technology officer, Mira Murati, and two other executives leaving the company.
Cutting edge AI
In a statement, OpenAI expressed that the $6.6 billion in funding would be used to “accelerate progress on our mission. The new funding will allow us to double down on our leadership in frontier AI research, increase compute capacity, and continue building tools that help people solve hard problems.”
Alongside the latest funds and executive departures, OpenAI has undergone other significant changes.
The company is shifting to a for-profit entity, which investors may have been pushing for as this would mean that OpenAI’s future will reflect that of a more traditional start-up model. Under the new structure, CEO Sam Altman is also expected to receive equity for the first time.
Last year, Altman was fired by his own board and then reinstated all within a matter of days.
