Exclusive Content:

OpenAI Closes $300 Million Funding Round at $27 Billion Valuation

OpenAI, the company behind the popular chatbot ChatGPT, has closed a more than $300 million funding round at a valuation between $27 billion and $29 billion. It’s one of a wave of “generative AI” that’s revolutionizing industries and creating a quickly growing ecosystem around artificial intelligence.

ChatGPT is an AI-powered chatbot developed by OpenAI that can answer questions in various languages. It’s also used for generating text and images, with its latest version, GPT-4, upgrading its capabilities.

It can answer questions about cliche rom-com in alternate universes, explain quantum mechanics, write bad stand-up comedy scripts, and even research the most complex matters in seconds. But the hottest thing about ChatGPT isn’t just that it’s an AI; it’s a powerful machine that understands human emotion and language well.

That’s a massive advantage over other chatbots and traditional search engines, which often churn out keyword queries. It means we can use ChatGPT to answer a question about our favorite celebrity, and the AI will respond with a full-length article on the subject in no time.

The company also has several other products, including the image-generation tool Dall-E and the speech recognition model Whisper AI. It’s also developing Point-E, a way to create 3D models with worded prompts.

Generative AI has been all the rage, but despite its apparent popularity, there are also a lot of controversies around the technology. People have asked whether it lies, if it’s a virus, if it handles privacy if it can be manipulated to be toxic or commit defamation. With so many other AI companies jumping into the fray, it’s all been exciting to watch.

Alphabet CEO Sundar Pichai Reaps Over $200 Million in 2022

VC firms are in talks to buy shares.

A tender offer for at least $300 million in OpenAI shares is being negotiated by a handful of VCs, including Thrive Capital and Founders Fund. According to sources familiar with the negotiations, the deal would value the company at $29 billion, making it one of the most valuable U.S. startups on paper, despite generating little revenue.

This would be a significant boost for Microsoft, which is deepening its ties with OpenAI and using its generative AI technology throughout its consumer and corporate products and in the Azure cloud. It’s an essential strategy for the Redmond, Washington-based software giant as it battles to expand its market share in the cloud services business and to take on rival Amazon.

Several VCs involved in this new round, including Thrive and Founders Fund, have invested in OpenAI before. But this is the first time they’ve invested in the company with a strategic role and the first time Peter Thiel has been involved.

It’s still being determined who will ultimately end up owning the company, but the deal shows that many VCs are still willing to invest in promising startups. However, they’re doing so with a lot of caution, having recently slowed down their investment pace in light of the monetary disaster that has hit the tech sector in recent years.

Don't miss

Russia’s New Space Deal with North Korea Could Pose a Threat to the West

Russian President Vladimir Putin promised to help North Korea...

Russia’s Luna-25 Mission Crashes into Moon, Leaving Crater

NASA images show that Russia’s failed Luna-25 mission left...

Denmark Takes Steps to Stop Quran Burnings, Citing Threat to Public Order

The Danish government said on Friday that it was...

Virgin Galactic Completes First Commercial Spaceflight

A private space company founded in 2004 by British...


Magazine Herald
Magazine Herald
Madalyn D'Cruz is a social media, Magazine expert and digital marketing strategist who has helped numerous businesses build their online presence. She has a degree in marketing from the University of Florida and is constantly staying up-to-date on the latest social media trends and best practices. Maria also enjoys photography, travel, and spending time with her family.


Please enter your comment!
Please enter your name here