Tag: Valuation

OpenAI's CEO, Sam Altman, is adamant that the company will stay private, even though its current valuation is $29bn. Being private allows for greater control and more innovative thinking. Altman is touring to discuss international expansion and AI regulation while warning about potential crucial decisions. OpenAI's advancements led to the creation of their chatbot, ChatGPT, with free and paid versions using GPT models.

Former FTX CEO claims key evidence date missed in fraud charges as his lawyers accuse prosecutors of failing to provide the contents of five devices due by the end of March. A laptop and iPhone belonging to former Alameda Research CEO Caroline Ellison and an FTX co-founder Gary Wang's laptop are among the devices, with Bankman-Fried's court date set for October 2nd. Additionally, FTX bankers are looking to cash out their shares in Anthropic, an AI startup valued at $4.6 billion. Perella Weinberg is handling FTX's bankruptcy, with the potential sale worth hundreds of millions of dollars.

Instabase, a San Francisco-based platform using AI to extract insights from unstructured data, has secured $45m in Series C funding, doubling its valuation to $2bn. Enterprises use the platform to process documents, automate processes and deploy apps. It is used by four of the top five banks in the US. The funding will be used to increase investment in generative AI. It competes with Google, AWS and Azure.

OpenAI CEO Sam Altman says the company has no plans to go public due to concerns over potential investor conflicts with its plans for super intelligence. The company operates under a hybrid capped-profit structure that allows external funds while benefiting the non-profit operation. OpenAI has raised $10bn from Microsoft at a valuation of almost $30bn as it invests more in building computing capacity.

OpenAI CEO, Sam Altman, is hesitant to take the company public due to concerns of being sued by the public market and Wall Street. As AI develops superintelligence, it may make decisions that investors find strange. Although other tech firms plunge into AI, OpenAI has raised $10 billion from Microsoft at a $30 billion valuation.