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OpenAI closes funding at $157 billion valuation, as Microsoft, Nvidia, SoftBank join round - TL;DR CNBC

OpenAI closes funding at $157 billion valuation, as Microsoft, Nvidia, SoftBank join round

Publishing timestamp: 2024-10-02 17:00:08


Summary

OpenAI closed a funding round raising $6.6 billion at a $157 billion valuation, led by Thrive Capital with participation from Microsoft and Nvidia. The company has seen rapid growth in revenue but also expects to lose $5 billion this year due to high costs. There have been key executive departures and discussions about potentially restructuring to a for-profit business.


Sentiment: MIXED

Tickers: MSFTNVDA

Keywords: nvidia corpgenerative aisoftbank group corpbreaking news: technologybusiness newssam altmanmicrosoft corptechnologyartificial intelligence

Source: https://www.cnbc.com/2024/10/02/openai-raises-at-157-billion-valuation-microsoft-nvidia-join-round.html


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