- OpenAI seeks new funding at $100B+ valuation
- Thrive Capital leads round with $1B
- Company burns cash despite $3.4B annual revenue
Cash-hungry AI giant
OpenAI, the company behind ChatGPT, is reportedly in discussions to secure a massive funding round led by Thrive Capital. The potential deal could value the AI startup at over $100 billion, surpassing its previous $86 billion valuation and setting a new record in the AI industry.
Big names, bigger bucks
Thrive Capital is expected to contribute around $1 billion to the round, with tech giant Microsoft also likely to participate.
The funding would mark OpenAI’s largest capital infusion since Microsoft’s $10 billion investment in January 2023.
Burning through billions
Despite annualized revenue exceeding $3.4 billion earlier this year, OpenAI faces substantial financial challenges.
The company is reportedly on track to lose nearly $5 billion by year-end, having already spent $8.5 billion on AI training and staffing.
