OpenAI, an artificial intelligence company, is discussing securing additional funding from prominent firms, potentially elevating its valuation to $100 billion.
It has been reported that OpenAI, an artificial intelligence (AI) firm, is in discussions to secure new funding, which could result in a valuation exceeding $100 billion. The new funding is anticipated to attract participants from leading corporations and venture capital firms. During the market downturn, crypto users evaluate the prospective impact of AI coins.
OpenAI is in search of additional funding
According to reports, OpenAI is in the process of securing additional funding, which could potentially elevate its valuation to $100 billion. According to individuals who are knowledgeable about the matter, the form has the potential to generate an estimated billion dollars, according to a recent report in the Wall Street Journal.
It is anticipated that the round will be led by venture capital firm Thrive Capital, which is expected to attract participants from larger companies such as the tech colossus Microsoft, according to the report.
The staff of ChatGPT sold shares, resulting in the company’s valuation reaching $86 billion last year. This AI frenzy and pervasive adoption resulted in growth, as OpenAI’s valuation reached $29 billion the previous year, and its current revenues exceeded $2 billion.
It is anticipated that this will be the most significant funding round since the announcement of Microsoft’s $10 billion investment in January 2023, as Thrive Capital is anticipated to raise $1 billion in association with prominent firms.
As per the report, certain shareholders are in the process of negotiating the sale of their shares in the company at a price that could bring its valuation to over $103 billion.
The company’s expansion continues to excite numerous consumers by incorporating new enhancements into its products. OpenAI recently disclosed a significant update that enables developers to customize GPT-40 with particular data sets. The upgrade will reduce costs while improving the model’s performance.
Influence on AI Coins
The crypto space has been influenced by the chatter surrounding AI companies, particularly the activities of leading firms. After the United States Securities and Exchange Commission (SEC) approved the spot Bitcoin ETF in Q1 2024, AI coins experienced a significant increase in value due to the broader market upturn.
Despite the recent correction, most users have indicated that potential highs may occur due to positive developers. Nvidia, an AI processor manufacturer, disclosed earnings that exceeded expectations in the second quarter, which prompted additional speculation.
