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Aug 31, 2024

Microsoft, Apple, and NVIDIA will reportedly bail out OpenAI from the shackles of bankruptcy, pushing the ChatGPT maker’s market valuation to over $100 billion

Posted by in category: robotics/AI

Last month, reports emerged indicating that OpenAI is running on fumes and could be on the brink of bankruptcy within 12 months, with projections of $5 billion in losses. Despite the discounted access to Microsoft’s Azure services and approximately $3.5 billion generated in revenue, the ChatGPT maker might need another round of funding to remain afloat.

And now, according to a report by CNBC, OpenAI is in talks to raise funding which could push its market valuation to over $100 billion. The company’s valuation has significantly grown over the past years — from $29 billion in 2023 to $80 billion earlier this year.

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