OpenAI closed its long-awaited funding round, announcing that it raised $6.6 billion at a $157 billion post-money valuation.
Earlier this year, OpenAI was valued at a reported $80 billion, up from $29 billion in 2023.
But all that revenue is extremely costly, as OpenAI has to ramp up purchases of Nvidia's graphics processing units to train and run its large language models. The company expects to lose about $5 billion this year, the person said. Microsoft has invested billions of dollars in OpenAI and is a key partner as the software giant bolsters its Azure cloud business.Earlier this year, OpenAI was valued at a reported $80 billion, up from $29 billion in 2023.
OpenAI is experiencing plenty of growing pains along the way, including the loss of key executives, a trend that continued
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