OpenAI, the company behind the widely used conversational AI model ChatGPT, has recently completed a successful share sale worth over $300 million at a valuation of $27 billion – $29 billion.
Venture Capital firms including Tiger Global, Sequoia Capital, Andreessen Horowitz, Thrive, and K2 Global are reportedly buying fresh shares, according to papers reviewed by TechCrunch.
This investment is separate from the $10 billion investment made by Microsoft earlier this year.
This recent funding will enable OpenAI to continue its work in the field of artificial intelligence and machine learning.
OpenAI has been at the forefront of AI research since its inception in 2015 and has made significant contributions to the field, including the development of the GPT language model, which is used in the ChatGPT chatbot.