October 2, 2024: OpenAI Raises $6.6B, Valued at $157B - OpenAI secured a record $6.6 billion funding round, doubling its valuation to $157 billion. Thrive Capital led the investment, joined by major firms like Microsoft and Nvidia. The funding aims to support AI research and a potential structural reorganization into a benefit corporation. OpenAIs services are projected to bring in $3.7 billion in revenue this year, despite expected losses of $5 billion. With over 250 million weekly users, the company plans to expand its AI leadership, increase compute capacity, and possibly develop custom machine learning hardware.
