ChatGPT chatbot developer OpenAI, the AI research company responsible for creating the chatbot, has successfully completed a successful share sale worth more than $300 million. TechCrunch says the sale was conducted at a valuation of $27 billion and $29 billion, with several prominent venture capital firms buying new shares.
The VC firms participating in the deal included Tiger Global, Sequoia Capital, Andreessen Horowitz, Thrive, and K 2 Global. TechCrunch reported earlier this week that Founders Fund has invested in the company, according to TechCrunch. The $120 million investment from Microsoft is part of its $10 billion investment in the year ago.
The recent funding from OpenAI will allow it to continue its efforts in the field of artificial intelligence and machine learning. Since its inception in 2015, OpenAI has played an important role in AI research, encompassing the creation of the GPT language model, which is utilized in the ChatGPT chatbot.
The GPT 3 and GPT 4 language model has received widespread attention for its ability to generate human-like text, and it has been utilized in numerous applications, such as chatbots and automated content creation.
A group of prominent technology leaders, including Elon Musk and current CEO Sam Altman, founded OpenAI. The company is based in San Francisco and serves clients in Seattle and London.
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