OpenAI, co-founded by Sam Altman in 2015, is projected to lose around $5 billion this year on $3.7 billion in revenue|World Economic Forum|CC BY-NC-SA 2.0
ChatGPT-maker OpenAI has raised $6.6 billion, increasing its valuation to $157 billion. The funding round, led by Thrive Capital with a $1.25 billion investment, is one of the largest for a private company.
Microsoft is contributing nearly $1 billion, while other investors, including SoftBank and Nvidia, are investing $500 million and $100 million, respectively.
The cash influx comes as OpenAI plans to become a for-profit organization. Several top executives, including nine of the 11 co-founders, have left the company.
Despite rapid growth, OpenAI, co-founded by Sam Altman in 2015, is projected to lose around $5 billion this year on $3.7 billion in revenue due to high costs.
The company aims for $11.6 billion in revenue by 2025, marking a 213% increase.
The ChatGPT-maker has accelerated product launches. Its chatbot has 250 million weekly active users, a significant increase from just 100 million earlier this year. It also has over 1 million business customers, reinforcing its position as a leader in the AI industry.