ChatGPT creator, OpenAI just finished a mega share sale. They scored over $300 million from some big-name venture capital firms. Word on the street is OpenAI’s worth somewhere between $27 billion and $29 billion.
Tiger Global, Sequoia Capital, Andreessen Horowitz, Thrive, and K2 Global all participated in the share sale. Plus, Founders Fund chipped in, too. Keep in mind this cash is separate from the cool $10 billion Microsoft invested earlier. Altogether, outside investors now own over 30% of OpenAI.
OpenAI’s gonna use the cash to keep working on its AI and machine learning projects. They’ve been making waves in the AI world since 2015, and their GPT language model (the secret sauce behind ChatGPT) is a big reason why.
GPT-3 and GPT-4 have been turning heads because they’re so good at sounding like real people. They’re used for chatbots and automated content, like the kind you’re reading right now.