Tiger Global is preparing to take part in OpenAI’s highly anticipated new funding round, which would value the artificial intelligence startup at over $150 billion, according to insider sources. This round is being led by Thrive Capital, which has committed to investing $1 billion. Major tech giants, including Microsoft, Nvidia, and Apple, are also rumored to be in talks to join the funding round.
New “World News” post on CNBC: Tiger Global plans to join OpenAI’s funding round at more than $150 billion valuation https://t.co/m54WxmrZ9u pic.twitter.com/Q6qPfuJlgh
— GlobalNewsEng (@globalnews99694) September 13, 2024
This development follows a rapid increase in OpenAI’s valuation. Earlier this year, the company’s worth was reported to be around $80 billion, a significant jump from $29 billion the previous year. OpenAI’s annualized revenue has reportedly exceeded $2 billion, reflecting the tremendous growth of the company, which began to accelerate in late 2022 after the launch of its popular ChatGPT chatbot. OpenAI has continued to expand its offerings, introducing new products tailored for businesses and venturing into AI-generated photos and videos. These innovations have fueled the company’s growth, doubling its number of weekly active users to 200 million since late last year.
In addition to the funding news, OpenAI recently unveiled its latest AI model, referred to as “o1,” which is designed to enhance reasoning and tackle complex problem-solving tasks. This launch comes shortly after OpenAI’s CEO, Sam Altman, participated in a high-profile meeting at the White House. The meeting brought together leaders from major tech firms like Anthropic, Nvidia, Microsoft, Google, and Amazon, along with U.S. power and utility companies, to discuss the future of AI’s impact on energy infrastructure.
Exclusive: Tiger Global Management plans to participate in OpenAI’s multi-billion dollar funding round valuing the AI firm at $150 billion.https://t.co/cDmgcyyYKW
From @KateClarkTweets
— The Information (@theinformation) September 13, 2024
The conversation at the White House meeting revolved around how the public and private sectors can collaborate on critical issues like AI’s energy consumption, data center capabilities, semiconductor production, and the capacity of the power grid. As OpenAI continues to innovate and scale, its role in these broader discussions is becoming increasingly central.
A spokesperson for OpenAI has yet to comment on the ongoing funding discussions.
Key Points:
i. Tiger Global is expected to join OpenAI’s new funding round, valuing the AI company at over $150 billion, with Thrive Capital leading a $1 billion investment.
ii. Tech giants like Microsoft, Nvidia, and Apple are also reportedly considering joining the round.
iii. OpenAI’s value has soared from $29 billion last year to $80 billion earlier this year, with annualized revenue exceeding $2 billion.
iv. OpenAI recently released “o1,” a new AI model focused on reasoning and solving complex problems.
v. OpenAI CEO Sam Altman participated in a White House meeting with tech leaders to discuss AI’s future impact on energy infrastructure and grid capacity.
Lap Fu Ip – Reprinted with permission of Whatfinger News