OpenAI Weighs Options for Funding

OpenAI, the artificial intelligence (AI) developer, is reportedly in discussions with potential investors considering an investment exceeding $100 billion, according to individuals familiar with the matter.

OpenAI Weighs Options for Funding

Sources cited in a recent Bloomberg report reveal that investors contemplating funding for the AI developer have engaged in initial discussions, coinciding with a surge in funding across the AI industry. While French AI startup Mistral AI recently secured around $415 million in funding for its generative AI tools, chatbot development, and customizable features, the OpenAI funding round remains in the preliminary stages. Key details such as terms, valuation, and the timing of the funding round have yet to be finalized.

If the funding materializes, OpenAI is poised to become the second-most valuable startup in the U.S., trailing only behind aerospace technology firm SpaceX. OpenAI CEO Sam Altman has not made any public statements on social media regarding the funding round, but he recently shared reflections on X (formerly Twitter), noting that 2023 marked a year when people began showing increased interest in AI.

OpenAI Looks to Secure Funding in Excess of 100 Billion Dollars in Upcoming Round

Recent reports highlight OpenAI’s ongoing commitment to investment activities in the realm of other AI startups. On December 15, Cointelegraph noted that OpenAI has initiated the application process for the second cohort of its six-week program for AI startups, Converge 2.

The program boasts a substantial funding pool of $15 million, providing 15 qualifying firms with the chance to secure $1 million each for their endeavors. This follows the launch of OpenAI’s initial funding program for AI startups in November 2022, during which 12 applicants were awarded $1 million each to support the expansion of their AI initiatives.