OpenAI, the artificial intelligence company behind the popular chatbot ChatGPT, is aiming for a significant valuation boost. The startup is in talks to raise several billion dollars in a new funding round that could push its value above $100 billion.
According to the Wall Street Journal, Thrive Capital is expected to lead the round, with participation from major tech firms like Microsoft.
Last year, OpenAI’s valuation soared to $86 billion from $29 billion the year before. This rapid growth can be attributed to the company’s successes and the increasing popularity of its products. If successful, the new funding round would be the largest since Microsoft’s $10 billion investment in January 2023.
Some existing shareholders are reportedly exploring the possibility of selling their shares, which could further elevate the company’s valuation beyond $103 billion. OpenAI has recently introduced a feature that allows developers to customize its GPT-4 model with specific data. This enhancement aims to improve performance and reduce costs.
News of OpenAI’s fundraising efforts has also had a ripple effect on the cryptocurrency market. Earlier this year, AI-related tokens experienced a surge following the U.S. Securities and Exchange Commission’s approval of a spot Bitcoin ETF. While the market has recently cooled down, there remains optimism for future growth, partly due to Nvidia’s strong earnings report.
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