OpenAI reportedly raises $11B in new funding at $1.25T valuation - SiliconANGLE
By Google News AI ·
OpenAI Group PBC has reportedly raised $11 billion as part of a funding round that could nearly double in size over the coming weeks.
Sources told Bloomberg that investors wired the funds to the company today. The tipsters didn’t name the backers. The list of possible participants includes Microsoft Corp., which contributed to at least four of OpenAI’s previous rounds. That included its most recent $122 billion raise in March, which also drew the participation of Nvidia Corp., Amazon.com Inc. and about two dozen others.
It’s believed that OpenAI could raise up to $9 billion in additional funding as part of the round. The deal is expected to value the company at $1.25 billion. That potentially puts it on track to surpass Anthropic PBC’s market capitalization.
Anthropic hopes to achieve a valuation of $1.5 trillion in its upcoming initial public offering. However, several of its investors reportedly don’t consider that to be a realistic goal. According to the Wall Street Journal, one shareholder reportedly suggested that the company pursue a valuation closer to $1 trillion.
Anthropic’s IPO filing revealed that its quarterly revenue jumped 1,127% on a year-over-year basis in the third quarter. Last month, the Financial Times reported that OpenAI closed the quarter with $50 billion in net annualized revenue, which represented a 77% year-over-year increase. The company’s growth was driven by its enterprise business, which saw sales more than double.
The latest addition to OpenAI’s enterprise portfolio debuted on Thursday. GPT-6 Cyber can perform most cybersecurity tasks better than GPT-6 Astra, the company’s most capable general-purpose model. OpenAI engineers used it to develop 948 Linux exploits and uncover 81 high-severity zero-day flaws in Firefox.
OpenAI…
Originally published by Google News AI
