OpenAI, the developer behind ChatGPT, has successfully completed a massive $6.6 billion fundraising round, pushing the company’s valuation to an impressive $157 billion. This significant milestone was announced in a blog post on Wednesday.
The announcement followed weeks of speculation and reports that the company was engaged in talks with a range of high-profile investors. The round was led by Thrive Capital and included contributions from SoftBank’s Vision Fund, Microsoft, Coatue Management, and several other notable firms.
The influx of capital not only strengthens OpenAI’s financial position but also opens new doors for its employees. According to OpenAI’s Chief Financial Officer, Sarah Friar, the company will now move forward with a tender offer, allowing employees to sell shares. This opportunity is seen as a reward for their contribution to the company’s rapid growth and success.
Looking ahead, OpenAI is targeting substantial revenue growth. The company aims to generate over $11 billion in revenue next year, which would be a significant increase from the current year. By 2026, OpenAI is projecting to more than double this target, with plans to exceed $25 billion in revenue.
With this latest round of funding, OpenAI is well-positioned to continue its leadership in the artificial intelligence space and further expand its innovations in the years to come.