The artificial intelligence company OpenAI, best known for its AI chatbot ChatGPT, has recently raised a substantial amount of funding, totaling $6.6 billion. With this new influx of capital, the start-up’s valuation has nearly doubled to an impressive $157 billion, putting it in the same league as major corporations like Uber and AT&T.
One of the conditions of this funding round is that OpenAI must transition to a for-profit company within the next two years. This signals a significant shift for the company, which has previously operated as a non-profit organization focused on advancing AI research and development.
This news comes amidst a backdrop of global unrest and political movements, with students in Argentina protesting the government’s freeze on higher education spending. In the United States, President Joe Biden has called on port employers to resolve a dockworkers’ strike that is causing disruptions in the supply chain.
OpenAI’s success in securing this substantial funding highlights the growing importance of AI technology in various industries, from customer service to medical research. As the company prepares to make the transition to a for-profit model, it will be interesting to see how it continues to innovate and shape the future of artificial intelligence.
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Video “ChatGPT maker OpenAI sees value nearly double to $157 billion after new funding round • FRANCE 24” was uploaded on 10/03/2024 to Youtube Channel FRANCE 24 English