Tag: Fundraising

OpenAI CEO, Sam Altman, announced that the Microsoft-backed organization currently has no plans to go public due to the potential for investor decisions to disappoint Wall Street. OpenAI has received $10 billion in funding from Microsoft, and it operates a non-profit hybrid capped-profit model to benefit the public good. OpenAI also warns of AI risks, but the company does not provide any details on its new AI model, GPT 4. Altman recently drew criticism for suggesting that OpenAI may leave the EU due to upcoming regulations on AI.

Light Year AI, an AI startup founded by Meituan's co-founder Wang Huiwen, has become a unicorn by raising $230 million in just 100 days without releasing any new products. The funding round saw Source Code Capital leading with $80 million, followed by Tencent, 5Y Capital and Kuaishou founder Su Hua. The startup has positioned itself for market entry and mergers and acquisitions, contributing to its success. With the growing interest in AI technology, Light Year AI's investment journey is worth watching as it continues to evolve.

Stay ahead with the latest developments in AI-based technologies with the latest Generative AI News (GAIN) podcast. Featuring discussions on AI copilots for lawyers, Taylor Swift's ChatGPT app, and more. Stay tuned for live shows with participation opportunities.

Tribe Capital is an asset management company seeking out the most promising and talented early-stage venture capitalists and angel investors. With the 2023 rankings, Tribe Capital analyzed over 1,600 investors using Crunchbase and PitchBook data. This year, the process was updated to account for the slower dealmaking environment and women investors, leading to the expanding Seed 30 list. Ultimately, Tribe Capital looks to identify and invest in the best early-stage venture capitalists.