New York, Thursday, October 3, 2024-OpenAI has announced that it had secured $6.6 billion in new funding from key investors, including Microsoft, Nvidia, Thrive Capital, and Khosla Ventures.
The funding could push OpenAI’s valuation to $157 billion, making it one of the most valuable private companies globally.
Thrive Capital led the round with a $1.2 billion investment and holds the option to invest another $1 billion next year, contingent on OpenAI hitting revenue targets.
Other participants in the funding include Altimeter Capital, Fidelity, SoftBank, and Abu Dhabi’s state-backed investment firm MGX.
The funding arrives as OpenAI undergoes corporate restructuring and executive shifts, notably the recent departure of Chief Technology Officer Mira Murati.
The investment is expected to provide liquidity for employees through a tender offer, though details remain undisclosed. Earlier this year, some employees cashed out shares at a valuation of $86 billion.
OpenAI projects revenue of $3.6 billion this year despite losses exceeding $5 billion, with a major jump to $11.6 billion anticipated next year.
The company continues to pursue advancements in artificial general intelligence (AGI) while ramping up commercialization efforts to achieve profitability.
