Now that OpenAI has become a for-profit company, it’s making a tidy profit in the process. OpenAI said it raised $6.6 billion in new funding from investors, nearly doubling its value to $157 billion. The new funding also makes it the largest venture capital deal in history.
New investors have jumped on board after the AI startup plans to transition from philanthropic to nonprofit. . Investors have the right to withdraw their funding if OpenAI fails to operate profitably. .
Thrive Capital, the venture capital firm founded by Joshua Kushner, youngest son of pardoned real estate developer Charles Kushner, has led a new round of funding with $1.25 billion. Other investors include SoftBank, Nvidia, Fidelity Management and OpenAI’s previous largest investor, Microsoft.
One name conspicuously absent from the list of investors is Apple. The tech giant was in the process of negotiating a financing deal, but it appears .
Funding isn’t the only thing growing for OpenAI. Its AI application ChatGPT has attracted 250 million weekly active users Announced at the end of August and 11 million paying subscribers. A higher usage rate is what OpenAI officials think is needed to $22 per month until the end of the year, and $44 per month for the next five years.
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