OpenAI secures $6.6 billion in funding, valuation reaches $157 billion

OpenAI, the creator of ChatGPT, has successfully raised $6.6 billion in a funding round, bringing its valuation to $157 billion, comparable to that of Uber. Notable investors in this round include Nvidia and Japan's SoftBank.

The San Francisco-based company is reportedly undergoing a restructuring to transition into a for-profit model, though specific details have not been disclosed. The funding was led by Thrive Capital, with contributions from MGX, an Abu Dhabi-based investment firm, and others, Caliber.Az reports per foreign media.

Despite the significant funding, OpenAI's valuation remains considerably lower than Microsoft, its primary backer, which has been valued at $3 trillion. The new investments will help OpenAI enhance its AI research and expand its computing capacity, a critical expense for developing and operating advanced AI models.

Sarah Friar, OpenAI’s CFO, noted the platform's popularity, boasting over 250 million weekly active users who utilize ChatGPT for various tasks, from language translation to complex problem-solving.

However, the company is reportedly facing a projected loss of $5 billion this year. OpenAI has yet to provide details on its potential shift from a non-profit to a fully for-profit entity. The organization is governed by a non-profit board but has a for-profit subsidiary that limits returns for investors and employees. There are concerns, expressed by former employee William Saunders, that this restructuring might lead to compromises in safety standards.

OpenAI's charter is committed to developing artificial general intelligence that benefits all of humanity.