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OpenAI’s new fund raising is shaking up Silicon Valley
Generative AI is forcing America’s disrupters-in-chief to think differently.
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OpenAI, the maker of ChatGPT, is understood to be in talks to raise US$6.5 billion (S$8.4 billion) from investors to fund expansion dreams.
PHOTO: REUTERS
The Economist
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A rare beast may soon lumber across the hills of Silicon Valley: Not a US$1 billion (S$1.3 billion) unicorn, nor a US$10 billion decacorn, but a hectocorn – a start-up valued at more than US$100 billion.
OpenAI, the maker of ChatGPT, is understood to be in talks to raise US$6.5 billion from investors to fund the expansion dreams of its co-founder, Mr Sam Altman. If it pulls off the deal, OpenAI’s valuation will be about US$150 billion, making it only the second-ever US$100 billion-plus start-up in America after SpaceX, a rocketry giant led by Mr Elon Musk (who co-founded OpenAI in 2015 and is now Mr Altman’s nemesis).
