OpenAI, a startup renowned for its creation of the ChatGPT conversational AI model, has subsequently gained a slew of new financial backers. Five VC firms in total, Tiger Global, Sequoia Capital, Andreessen Horowitz, Thrive, and K2 Global have collectively made an injection of over $300 million at an estimated valuation of between $27 and $29 billion. Microsoft (NASDAQ: MSFT) had already made a similar investment of about $10 billion initially. The backing from the VCs is purely financial, contrasted with Microsoft’s investment, which has a strategic objective.
OpenAI is dedicated to AI, and has recently unveiled a new product in the form of ‘ChatGPT Plus’, a paid version of its pre-existing conversational AI model. There is moreover a flourishing environment dedicated to the innovation of GPT and ChatGPT, with several businesses integrating OpenAI’s technology into their services and products.
The company itself has been through commanding changes since its origin in 2015, now that its original non-profit framework has been deactivated. The founders of OpenAI, Sam Altman and Elon Musk, maintain the vision of creating artificial general intelligence (AGI) that can simulate humans in a range of tasks; since the inception of OpenAI, it has gone on to become one of the most well-known startups worldwide.
In today’s digital-driven world, AI is becoming more and more integral to maintain operations. OpenAI’s technology has the potential to be more advanced and useful than ever – with the backing of prominent names in VC, it has the capacity to make a lasting impression on the AI market.
