By OpenAI, the company behind the widely-used ChatGPT, is reportedly in the midst of negotiations to secure a multi-billion dollar investment that could propel its valuation to over $100 billion.
The anticipated funding round is expected to be spearheaded by Thrive Capital with a commitment of around $1 billion, according to the Wall Street Journal.
Moreover, Microsoft (NASDAQ:MSFT), a current investor in OpenAI, is slated to contribute to the funding efforts. The involvement of Microsoft further shows the tech giant’s ongoing support and partnership with OpenAI, which has been instrumental in advancing AI technologies.
The San Francisco-based artificial intelligence firm has seen a sharp increase in its valuation, largely attributed to the success of ChatGPT, a chatbot known for generating conversational responses that mimic human interaction.
The potential funding round follows the trend of significant financial interest in AI technology. Thrive Capital’s substantial investment highlights the venture capital firm’s confidence in OpenAI’s growth prospects.
While the details of the funding round are still under wraps, the move is indicative of the burgeoning interest and investment in artificial intelligence startups. OpenAI’s increased valuation reflects the industry’s recognition of ChatGPT’s impact and the broader potential of AI applications.