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HomeNewsOpenAI Closes $300 Million Funding Round Between $27-$29 billion Valuation

OpenAI Closes $300 Million Funding Round Between $27-$29 billion Valuation

Italy temporarily blocked ChatGPT last month over worries about data privacy, but has already reversed the restriction.

According to TechCrunch, OpenAI, the company behind the ChatGPT chatbot, has completed a more than $300 million share sale at a valuation of between $27 billion and $29 billion.

According to records seen by TechCrunch, VC firms like Andreessen Horowitz, Tiger Global, Sequoia Capital, Thrive, and K2 Global are acquiring fresh shares. The Founders Fund is also investing, according to a source. 

Microsoft Corp. recently invested $10 billion over several years in OpenAI, the ground-breaking artificial intelligence research company responsible for ChatGPT and DALL-E. The money from Microsoft will allow OpenAI to continue its independent research and develop AI that is increasingly safe, useful, and powerful, according to a statement from OpenAI.

Read More: How Students Can Make The Best Use Of Technology To Enhance Learning Capacities

The GPT, or Generative Pre-trained Transformer, family of OpenAI’s huge language models, which are accessed by third parties via APIs, has recently drawn a lot of attention. OpenAI has an army of technical teams working across a variety of fields.

When OpenAI’s ChatGPT was introduced last year, it generated a worldwide sensation since it can generate essays, songs, examinations, and even news pieces from quick suggestions. Italy was the first Western nation to initiate legal action against the well-known AI chatbot in March.

Italy temporarily blocked ChatGPT last month over worries about data privacy, but has already reversed the restriction, according to the owner of the AI chatbot. “Our users in Italy can once again access ChatGPT. We are happy to have them back and will continue to secure their personal information, according to an OpenAI spokeswoman.

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Sahil Pawar
Sahil Pawar
I am a graduate with a bachelor's degree in statistics, mathematics, and physics. I have been working as a content writer for almost 3 years and have written for a plethora of domains. Besides, I have a vested interest in fashion and music.

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