OpenAI is currently in discussions to secure a funding round that could potentially value the company at more than $100bn, reported CNBC.
Thrive Capital is poised to lead this investment with a $1bn commitment for the company behind artificial intelligence chatbot ChatGPT.
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This development follows OpenAI’s valuation surge from $29bn to an estimated $80bn in just one year, with annual revenue surpassing $2bn.
The company’s growth trajectory accelerated notably after the late 2022 launch of ChatGPT.
Since then, OpenAI has expanded its product offerings to businesses and ventured into AI-generated photos and videos.
The Wall Street Journal, which first reported on the funding talks, indicated that Microsoft, OpenAI’s largest supporter, is also expected to participate in the round.
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By GlobalDataMicrosoft, however, has not provided any comments on the matter.
OpenAI recently announced its intention to debut SearchGPT, a search engine prototype.
This tool is currently in testing with a select user group and is expected to be integrated with the ChatGPT chatbot.
The introduction of SearchGPT could pose a challenge to Google‘s dominance in the search engine market, as it offers a more conversational approach to online information retrieval.
In other AI funding news, in June 2024, Mistral AI, a French AI startup, secured €600m ($642m) in a Series B funding round.
The funding came from General Catalyst, Lightspeed, Andreessen Horowitz, Bpifrance, BNP Paribas, and corporate backers NVIDIA, Salesforce, Samsung, and IBM.
Founded in mid-2023, Mistral, touted as Europe’s answer to OpenAI, aims to use the new funds to boost computing power, hire additional staff, and grow its operations, especially in the US.
Mistral’s funding round followed Elon Musk’s $6bn raise for his AI startup xAI, which was valued at $24bn.
xAI has been developing Grok-1, its competitor to ChatGPT, which was launched in November and offered to premium X subscribers.
