- OpenAI’s valuation hits $150B
- SoftBank invests $500M
- Apple exits funding round unexpectedly
AI Giant’s Coffers Swell
OpenAI is set to receive a $500 million investment from SoftBank Group Corp. This cash injection propels the ChatGPT creator’s pre-money valuation to a staggering $150 billion, nearly doubling its worth from earlier this year.
Big Players Make Moves
Microsoft plans to increase its stake by $1 billion, solidifying its partnership.
Thrive Capital emerges as the lead investor, potentially contributing over $2 billion. However, Apple has unexpectedly exited the funding round, leaving questions about their future collaboration.
Restructuring on the Horizon
OpenAI may restructure its for-profit arm as a benefit corporation, removing caps on investor returns. This move aligns the company’s unprecedented growth projections – from $3.7 billion in revenue this year to a whopping $100 billion by 2029.
