OpenAI completes fundraising of approximately 970 billion yen at a valuation of approximately 23 trillion yen, Microsoft, NVIDIA, and SoftBank may participate in the round
OpenAI has completed its fundraising round, raising $6.6 billion at a valuation of $157 billion.
New funding to scale the benefits of AI | OpenAI
OpenAI raises at $157 billion valuation; Microsoft, Nvidia join round
https://www.cnbc.com/2024/10/02/openai-raises-at-157-billion-valuation-microsoft-nvidia-join-round.html
OpenAI raises $6.6B and is now valued at $157B | TechCrunch
https://techcrunch.com/2024/10/02/openai-raises-6-6b-and-is-now-valued-at-157b/
OpenAI Completes Deal That Values Company at $157 Billion - The New York Times
https://www.nytimes.com/2024/10/02/technology/openai-valuation-150-billion.html
It has been reported that OpenAI's sales reached $300 million (about 40 billion yen) in September 2024 alone, an increase of 1,700% compared to a year ago. OpenAI expects to earn $3.7 billion (about 540 billion yen) in 2024 alone, but it is expected that it will incur a loss of about $5 billion (about 730 billion yen) due to the need to secure NVIDIA's high-performance GPUs to enhance the performance of its AI products. In addition, it is expected to secure revenue of about $11.6 billion (about 1.7 trillion yen) in 2025.
OpenAI has grown significantly, with the number of employees reportedly increasing by more than 1,000 in the past nine months. Its valuation , which was approximately $29 billion (approximately 4.26 trillion yen) as of January 2023, has grown to $80 billion (approximately 11.75 trillion yen) as of January 2024, and its valuation reached $157 billion in this funding round, which took place around August and September 2024.
OpenAI did not disclose the names of its investors, but previous reports have revealed that venture capital firm Thrive Capital likely led the funding round with $1 billion. According to people familiar with the matter, other investors include Microsoft, which has previously provided OpenAI with $13 billion worth of cloud infrastructure and funding, as well as NVIDIA, which develops chips essential for AI, venture capital firms Khosla Ventures , Altimeter Capital , Fidelity , Tiger Global , and SoftBank, which aims to realize artificial superintelligence (ASI). As previously reported , Apple is believed not to have participated.
SoftBank reportedly plans to invest over 700 billion yen in OpenAI - GIGAZINE
Thrive Capital has invested about $1.3 billion in OpenAI, including $750 million from its own fund and $550 million from other investors through vehicles called special purpose vehicles, according to a person familiar with the deal. Thrive Capital also has an option to invest up to an additional $1 billion in OpenAI through 2025 at the same $157 billion valuation, the person said.
According to Crunchbase, a database of venture companies, OpenAI's total funding, including this round, has reached $17.9 billion.
A Microsoft spokesperson, who has reportedly invested just under $1 billion, told CNBC in a statement that the company 'looks forward to continuing its partnership with OpenAI.'
Upon closing the funding round, OpenAI released the following statement:
'We are on a mission to ensure that artificial intelligence benefits all of humanity. Over 250 million people use ChatGPT every week to enhance their work, creativity and learning. Businesses across industries are improving productivity and operations, and developers are leveraging our platform to create a new generation of applications. And we're just getting started.'
'We've raised $6.6 billion in new funding at a $157 billion valuation to accelerate progress on our mission. This new funding will enable us to further our leadership in frontier AI research, advance computational power, and continue building tools that help people solve hard problems.'
'We aspire to make advanced intelligence a broadly accessible resource. We thank our investors for their trust in us and look forward to working with partners, developers, and the broader community to shape an AI-powered ecosystem and future that benefits everyone. By working with key partners, including the U.S. and allied governments, we can realize the full potential of this technology.'
According to
OpenAI has been going through a period of change, with the loss of co-founder Ilya Satkivar, as well as the departure of several other executives, including co-founder John Shulman and CTO Mira Murati. Of the 13 people who helped found OpenAI in 2015, only three remain at the time of writing.
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