ChatGPT maker OpenAI completes $300 million funding at $27 billion-$29 billion valuation: Report

OpenAI, the artificial intelligence research company responsible for creating the ChatGPT chatbot, has recently completed a successful share sale worth over $300 million. According to a report by TechCrunch, the sale was conducted at a valuation between $27 billion and $29 billion, with several prominent venture capital firms purchasing new shares.

Among the VC firms that participated in the sale were Tiger Global, Sequoia Capital, Andreessen Horowitz, Thrive, and K2 Global. According to TechCrunch, a source familiar with the matter also stated that Founders Fund has invested in the company. This investment is separate from the $10 billion investment made by Microsoft earlier this year.

This recent funding will enable OpenAI to continue its work in the field of artificial intelligence and machine learning. OpenAI has been at the forefront of AI research since its inception in 2015 and has made significant contributions to the field, including the development of the GPT language model, which is used 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 used in a variety of applications, from chatbots to automated content creation.

OpenAI was founded by a group of prominent technology leaders, including Elon Musk and current CEO Sam Altman. It is headquartered in San Francisco and has offices in Seattle and London.

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