OpenAI raised $6.6 billion as part of a fundraising round, which values ChatGPT at $157 billion. This shows the level of investor confidence in artificial intelligence technology.
San Francisco-based company said that the investment would allow them to increase their computing power, continue developing problem-solving software, and redouble their efforts in AI research. This is the largest private investment in history.
The round of fundraising was led by Thrive capital, a New York-based venture capital firm, with investors such as Microsoft, Nvidia and SoftBank Vision Fund 2. Other investors included Fidelity Management & Research Company, SoftBank Vision Fund 2 and Khosla Ventures.
OpenAI is at the heart of the AI frenzy ever since ChatGPT was launched in 2022. ChatGPT can provide human-like answers to tasks such as writing a business presentation or composing a poem. More than 250 millions people use it every week.
Sarah Friar, 51 and chief financial officer at OpenAI, stated: “AI has already personalised learning, accelerated healthcare breakthroughs, and driven productivity.” This is only the beginning. It comes as the company considers shifting to a “for-profit” model in a move that could make its chief executive a multi-billionaire.
AI leaders predict that businesses will adopt the latest technology to increase productivity and growth. As a result of the partnership between Accenture and Nvidia, a 30,000 strong army of consultants is being deployed to encourage companies to adopt Nvidia’s artificial technology.
Nvidia wants to increase the adoption of technologies that have fueled demand for its chip. Accenture will train 30,000 employees in Nvidia AI tools as part of the joint venture. A new Nvidia division will also be created. The joint venture will accelerate the use generative AI within businesses, and help clients scale “agenttic AI systems”, defined as AI which can act independently to achieve results.
Julie Sweet, 56 years old, the chief executive officer of Accenture said that the partnership would “create opportunities for companies to reimagine and restructure their operations, find new ways to work and scale AI across the enterprise in order to drive continuous change and to create value”.
Jensen Huang (61), founder and CEO of Nvidia said: “AI supercharges enterprises to scale up innovation at greater speeds.”
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