OpenAI announced a long-awaited raise of $6.6 billion at a post-money valuation of $157 billion led by Develop capital.
A brand new round makes it ChatGPT creator of one of the Most worthy private corporations in the world and also included investments, among others, Altimeter capital, Faithfulness, Khosla ventures, Microsoft, Nvidia, SoftBank and Abu Dhabi-based MGX. It was just this week reported SoftBank Vision Fund will invest USD 500 million in this round.
This was the case at the end of last week reported Apple he was out of the round.
OpenAI’s stormy weeks
The latest round comes as the company faces a myriad of issues, including senior worker exodus and a restructuring move to remodel it from a nonprofit to a for-profit company and provide co-founder Sam Altman equity in the company
The financing structure appears to take these aspects into account because it was in the type of convertible bonds and apparently allows investors to ask for a refund if the change is not made inside two years and removes the cap on investor returns.
The latest round is larger than the $6 billion round Elon Muskgenerative artificial intelligence start-up, xAIofficially announced in May — making it the second Most worthy generative AI company in the world, behind its only competitor OpenAI for $24 billion. The xAI round was the largest round raised this yr.