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

• 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