AI Wars | OpenAI’s new financing valuation will exceed 780 billion

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go through Hong Kong Economic Times August 30, 2024

Foreign media: The Wall Street JournalDisclosurethe US artificial intelligence company OpenAI is negotiating financing, and its valuation may exceed US$100 billion (about HK$780 billion). According to people familiar with the matter, venture capital firm Thrive Capital led this round of financing and will invest US$1 billion (about HK$7.8 billion). Microsoft, OpenAI’s largest investor, is also reportedly participating in this round of financing.

Open AILast month’s publicationThe beta version of the SearchGPT search engine aims to provide users with “fast, timely answers with clear and relevant sources”. It recently partnered with publishing giant Condé Nast toEstablishing a long-term cooperative relationshipThe tool will eventually be integrated into the chatbot ChatGPT, which is currently being tested with a small group of users and may have an impact on Google’s search engine in the future. Earlier this year, OpenAI’s valuation soared from $29 billion last year to $80 billion. However, The InformationNewsOpenAI expects to lose nearly US$5 billion by the end of the year; it has spent US$8.5 billion (approximately HK$66.3 billion) on artificial intelligence training and staffing alone.