Key Points
- OpenAI has raised $8.3 billion at a $300 billion valuation
- The funding round was led by Dragoneer Investment Group
- New investors included Blackstone, TPG, and T. Rowe Price
- The company has seen impressive growth, with annualized revenue of $12 billion
- OpenAI has over 700 million weekly active users
- The company’s projections suggest that it could reach $20 billion in revenue by the end of the year
OpenAI’s Funding Round
OpenAI, the maker of ChatGPT, has raised $8.3 billion at a $300 billion valuation, according to reports. This funding round is part of the company’s broader strategy to secure $40 billion. The round was led by Dragoneer Investment Group, which invested $2.8 billion, and included participation from several new investors, including Blackstone, TPG, and T. Rowe Price.
Other participants in the round included Altimeter Capital, Andreessen Horowitz, Coatue Management, D1 Capital Partners, Fidelity Management, Founders Fund, Sequoia Capital, Tiger Global, and Thrive Capital. Some early investors in OpenAI were reportedly dismayed by the smaller allocations they received in the round, as the company prioritized bringing on new strategic backers.
The funding round came months ahead of schedule, and the company has reportedly seen impressive growth, with annualized revenue of $12 billion and over 700 million weekly active users. The company’s projections suggest that it could reach $20 billion in revenue by the end of the year.
Source: techcrunch.com