- OpenAI valuation hits $80B after revenue exceeds $1.6B.
- New product Sora generates realistic custom videos from the text.
- With exponential growth, OpenAI cements its status as an AI leader.
OpenAI revenue hits $1.6 billion
OpenAI, the artificial intelligence startup behind ChatGPT, has seen its valuation skyrocket to around $80 billion, according to a new funding round.
The tender offer facilitated by VC firm Thrive Capital allows employees to sell stock amidst intense interest in AI.
Just last year, OpenAI was valued at $29 billion after a similar tender process. But explosive growth driven by releases like conversational bot ChatGPT has supercharged revenue over $1.6 billion in 2023. Backing by Microsoft to the tune of $10 billion has also fueled expansion.
OpenAI eyes broad release for Sora
The new valuation comes as OpenAI rolls out its latest AI product, “Sora”. The tool generates highly realistic custom videos from text prompts up to a minute long. After an initial testing period, OpenAI plans wider release while monitoring for harm.
Between exponential growth in core products and advanced new offerings like Sora on the horizon, OpenAI cements its status as a leader driving the AI boom. With momentum building, an $80 billion+ valuation may soon look like a bargain.
