It's so insane that just adding the word AI to your company changes the M in million to a B

Software Engineer

Sorted scenes. They need to make money hand over fist

Product Manager

OpenAI is likely to change its complex corporate structure soon.  Reports indicate talks of raising $6.5 billion at a $150 billion premoney valuation.  The deal depends on removing a profit cap for...

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- OpenAI is likely to change its complex corporate structure soon.
- Reports indicate talks of raising $6.5 billion at a $150 billion pre-money valuation.
- The deal depends on removing a profit cap for investors.
- CEO Sam Altman hinted at a shift towards a traditional for-profit model next year.
- OpenAI's nonprofit arm will continue to exist, focusing on AI that benefits everyone. 

 Source: [Techcrunch](https://techcrunch.com/2024/09/14/openai-could-shake-up-its-nonprofit-structure-next-year/)

OpenAI's Nonprofit Structure Faces Potential Overhaul

Journalist

OpenAI's Nonprofit Structure Faces Potential Overhaul- Grapevine

- OpenAI plans to transition from a nonprofit to a for-profit company, sparking debate.
- Chief Technology Officer Mira Murati resigns, following other top executives' departures.
- The restructuring aims to attract investors, with a funding round of up to $6.5 billion.
- CEO Sam Altman and the nonprofit arm will hold stakes in the new for-profit entity.
- Murati cites a desire for personal exploration as her reason for leaving. 

 Source: [WSJ](https://www.wsj.com/tech/ai/openai-chief-technology-officer-resigns-7a8b4639)

OpenAI's Controversial Shift to For-Profit Amid Leadership Exodus

- OpenAI is aiming to raise at least $5bn at a $150bn valuation from investors like Apple, Nvidia, Microsoft, and Thrive Capital.
- The San Francisco-based AI start-up is in talks with investors to fund its ambitious AI model development plans.
- Thrive Capital, led by Josh Kushner, is expected to invest $1bn in this round.
- The total fundraising could exceed $6.5bn, with Microsoft already having committed $13bn to OpenAI.
- Despite rapid growth and $2bn in annual revenue, OpenAI remains lossmaking due to high development costs and increasing competition. 

 Source: [Financial Times](https://www.ft.com/content/dde0855e-4543-4d3a-8ff5-e6fb3c3ff305)

OpenAI aims to raise at least $5bn at $150bn valuation

- OpenAI has closed a historic investment round, raising $6.6 billion at a $157 billion valuation.
- The AI research lab is now considering going public via an IPO.
- The company has promised to convert into a for-profit entity, reflecting its transition from a research lab to a product-focused business.
- OpenAI has also secured a $4 billion revolving credit line.
- The company's new CFO, Sarah Friar, has previous experience leading listed companies.

Source: [Axios](https://www.axios.com/2024/10/03/openai-funding-ipo-public-future)

OpenAI Considers Going Public Following $6.6B Investment Round

- Microsoft and Apple have decided not to take board roles at OpenAI, highlighting growing regulatory concerns over Big Tech's influence on AI.
- Microsoft, which invested $13 billion in OpenAI, will withdraw from the board, citing confidence in the company's direction and deeming their observer role unnecessary.
- European and US regulators have expressed concerns about Microsoft's influence over OpenAI, prompting investigations into potential dominance and antitrust issues.
- The UK is also scrutinizing Amazon's $4 billion collaboration with AI company Anthropic, while the US probes Nvidia's dominance in AI chips.
- OpenAI will continue to engage with stakeholders through regular meetings to ensure collaboration on safety and security, following its transition from a nonprofit to a for-profit entity.

Microsoft and Apple Withdraw from OpenAI Board Amid Regulatory Scrutiny

- OpenAI, the creator of ChatGPT, has raised $6.6 billion in a funding round led by Thrive Capital, increasing its valuation to $157 billion.
- The funding will be used to expand AI research, increase compute capacity, and develop tools to solve complex problems.
- OpenAI has reportedly spent around $7 billion on model training and $1.5 billion on staffing.
- The company's revenue is projected to reach $100 billion by 2029, but it faces stiff competition from other AI startups.
- OpenAI is considering a shift from nonprofit to for-profit governance to attract more investments.

Source: [Techcrunch](https://techcrunch.com/2024/10/02/openai-raises-6-6b-and-is-now-valued-at-157b/)

OpenAI Secures Record $6.6B Funding, Valuation Soars to $157B

- Investors are making an unprecedented bet on OpenAI, valuing the company at $150bn.
- Thrive Capital has already invested at least $1bn, with Apple, Nvidia, and Microsoft in talks to join.
- Despite the scale, some top investors like Andreessen Horowitz and Sequoia Capital are sitting out.
- OpenAI's revenues have surged to $3.6bn annually, but it still burns through over $5bn a year.
- The company faces fierce competition from Google and Meta, and must manage its transition from a start-up to a corporate giant. 

 Source: [Financial Times](https://www.ft.com/content/a8f9bd05-0999-415d-af86-c73e79ad5733)

Investors Bet Big on OpenAI's $6bn Funding Round

- OpenAI has secured $6.6bn in new funding and is now valued at $150bn, the highest in Silicon Valley's history.
- The company has asked investors to avoid backing rival start-ups such as Anthropic and Elon Musk’s xAI.
- OpenAI's move to seek exclusive relationships with investors could limit rivals' access to capital and strategic partnerships.
- The company's latest funding round was led by Thrive, a venture capital firm founded by Joshua Kushner.
- OpenAI plans to use the new funding to double down on its leadership in frontier AI research, increase compute capacity, and continue building tools that help people solve hard problems.

Source: [Financial Times](https://www.ft.com/content/66e0653e-c446-47b2-8a7f-baa54ccbfb9a)

OpenAI Secures $6.6bn Funding, Asks Investors to Avoid Rivals

Emmett Shear is the new CEO of OpenAI

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OpenAI raises fund at 90 billion dollar valuation. Becomes 3rd most valued private startup after Byte dance and SpaceX

- OpenAI's chief research officer Bob McGrew and research VP Barret Zoph have left the company, following CTO Mira Murati's exit.
- CEO Sam Altman announced the resignations and detailed leadership transition plans, promoting Mark Chen to SVP of research.
- Altman assured that the leadership changes were amicable and part of the company's natural evolution.
- The departures come amid reports of OpenAI transitioning to a for-profit entity, with Altman set to receive a 7% equity stake.
- OpenAI's all-hands meeting on Thursday is expected to reveal more details about the company's future direction. 

 Source: [Techcrunch](https://techcrunch.com/2024/09/25/openais-chief-research-officer-has-left/)

OpenAI's chief research officer leaves following CTO Mira Murati's exit

Mira appointed as a new interim CEO,

Any idea what might has happened?

OpenAI Sam Altman Fired

Founder

OpenAI board is reportedly in discussions with Sam Altman to bring him back as CEO.

- Safe Superintelligence (SSI), co-founded by Ilya Sutskever, has secured $1 billion in funding.
- The funds will be used to acquire computing power and hire top talent.
- SSI is valued at $5 billion and has 10 employees split between Palo Alto and Tel Aviv.
- Investors include Andreessen Horowitz, Sequoia Capital, and DST Global.
- Sutskever aims to develop safe AI systems that surpass human capabilities. 

 Source: [Reuters](https://www.reuters.com/technology/artificial-intelligence/openai-co-founder-sutskevers-new-safety-focused-ai-startup-ssi-raises-1-billion-2024-09-04/)

OpenAI Co-founder Sutskever's New AI Startup SSI Raises $1 Billion

In other unrelated news, Nvidia order book grew by $800 million.

Program Manager

The deal makes the ChatGPT-maker one of the most valuable start-ups in the world.

OpenAI value surges to $157bn in funding deal

Just in : OpenAI raises $6.6Bn at $157Bn valuation

- OpenAI reportedly discussing new funding round led by Thrive Capital
- Potential valuation exceeds $100 billion, up from previous $86 billion
- Thrive Capital expected to contribute $1 billion, Microsoft likely to participate
- OpenAI's annualized revenue surpassed $3.4 billion early this year
- Company projected to lose nearly $5 billion by year-end, having spent $8.5 billion on AI development 

 Source: [Techcrunch](https://techcrunch.com/2024/08/28/openai-reportedly-in-talks-to-close-new-funding-round-at-100b-valuation/)

OpenAI in Talks for Massive Funding Round at $100 Billion Valuation

- OpenAI is in talks to raise a new funding round at a valuation exceeding $100 billion, according to The Wall Street Journal.
- Investors have already valued OpenAI at over $100 billion in secondary market deals, with companies like Rainmaker Securities and Caplight tracking these transactions.
- Thrive Capital, led by Josh Kushner, is reportedly leading the primary deal with a $1 billion investment, alongside potential investors Microsoft, Nvidia, and Apple.
- OpenAI's valuation has surged from $86 billion in September to bids valuing it up to $143 billion, driven by its rapid revenue growth, now tracking to hit $2 billion in ARR by year-end.
- The high valuation and investor interest in OpenAI are expected to boost secondary market activity and valuations for other AI companies like Anthropic, Cohere, and Hugging Face. 

 Source: [Techcrunch](https://techcrunch.com/2024/08/30/investors-are-already-valuing-openai-at-over-100b-on-the-secondaries-market/)

Investors Value OpenAI at Over $100B on Secondaries Market

OpenAI is now a b2b saas company

Analyst

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xAI rival of open ai chatgpt and Google bard...Have hired ex-engineers of Google deepmind, open ai, Microsoft..What's your views?

OpenAI's Nonprofit Structure Faces Potential Overhaul

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