OpenAI Raises $11 Billion at $1.25 Trillion Valuation
OpenAI, the company behind ChatGPT, has raised $11 billion at a valuation of $1.25 trillion. It is also working with investment banks to raise money from high net worth individuals, meaning wealthy private investors. Valuation is the price investors place on the whole company, so this figure signals how much they expect AI to grow.
Context
Context: OpenAI launched ChatGPT in late 2022 and is one of the best-known AI companies, competing with Google and Anthropic. Building AI models needs huge sums for computer chips and data centres, which is why funding rounds keep growing.
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