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OpenAI says it raised $40 billion at valuation of $300 billion

Economic Times · 2m

OpenAI has raised $40 billion at a $300 billion valuation, partnering with SoftBank to accelerate AI research. The funding supports developing AI systems for diverse applications, aiming for artificial general intelligence (AGI). SoftBank will invest $10 billion initially, with $30 billion more pending conditions. OpenAI plans a strategic shift towards more open AI models, addressing competition and concerns over data security. This move contrasts with its previous closed-model approach, sparking debate with figures like Elon Musk.