OpenAI, which kickstarted the popularization of generative artificial intelligence tools with ChatGPT, has just closed a new round at a valuation of $157 billion.
The funding, totaling $6.6 billion, was led by Thrive Capital, with $1.3 billion. New investors on the cap table include Softbank, with an investment of $500 million, and Nvidia, with $100 million.
Also joining the round are Fidelity and MGX, a fund from the United Arab Emirates created this year to invest in AI and deep tech.
At the beginning of the year, OpenAI had been valued at $86 billion. Now, it is worth as much as Goldman Sachs (and almost two Petrobras).
According to Bloomberg, the funding puts OpenAI among the three largest startups in history to be financed by venture capital, alongside SpaceX and ByteDance, the creator of TikTok.
Founded in 2015 – originally as a non-profit company – and conceived to develop AI models ‘for the good of all humanity,’ OpenAI has become the target of desire for venture capital funds and major technology companies.
After the influx of money, it now plans to fulfill its calling to become one of the most profitable – and valuable – companies on the planet, and is expected to transform into a for-profit organization.
The company needs billions and billions of dollars in cloud space and computational capacity to develop more complex models and run them for clients.
New investors will have the right to withdraw some of the money back if the statutory transition to for-profit is not completed.
Recent commercial growth and internal disagreements have led to the departure of some of the top engineers and executives at OpenAI, but the company remains the leading reference and leader in new generative AI tools, as demonstrated by its recent model launch and the huge interest from investors.
ChatGPT was launched at the end of 2022 with instant success – attracting investment from Microsoft, which now owns almost half of the startup’s capital.
OpenAI projects to make $3.7 billion this year and $11.6 billion in 2025.
Its main source of revenue is ChatGPT, which is expected to generate $2.7 billion this year – a 290% increase from the $700 million earned in 2023.
The AI conversational bot currently has around 250 million active users; 11 million are subscribers to paid services. According to the Wall Street Journal, OpenAI also has 1 million corporate clients.
With recent hires, the company’s employee count has risen to 1,700 – more than double what it had at the beginning of the year, but still a fraction of companies with similar valuations.
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Arwen Volkov, A graduate of the University of St. Gallen in Switzerland with a degree in International Finance, Arwen specializes in sustainable finance and green investments. She began her career at an investment bank in London, where she developed financing models for environmentally friendly projects. Known for her analytical and strategic thinking skills, Arwen is a sought-after financial consultant. In her spare time, she mentors fintech startups, contributing to their growth strategies. She is also a nature enthusiast and an amateur photographer.
