Funding & Business
OpenAI said to be in talks to raise $40B at a $340B valuation
OpenAI may have billions of dollars in the bank. But it’s gearing up to raise billions more, according to a report from The Wall Street Journal.
Per The WSJ, OpenAI is in talks to secure up to $40 billion in a funding round that would value the startup at $340 billion. SoftBank would lead the round, pouring between $15 billion to $25 billion into the ChatGPT maker, according to The WSJ.
Should OpenAI successfully close the round, it’d be a remarkable feat for the startup, which was valued at $157 billion in October. The WSJ says that OpenAI would use the capital to fund its money-losing business operations and fulfill its commitment to Stargate, its ambitious project to build AI data centers across the U.S.
In 2024, OpenAI reportedly lost around $5 billion against revenues of $3.7 billion. The losses could mount. In conjunction with partners including SoftBank, OpenAI aims to contribute billions of dollars to Stargate to start.
Before the trading day starts we bring you a digest of the key news and events that are likely to move markets. Today we look at:
Source link
Long-dated dollar notes from Asian issuers outperformed shorter debt for a third straight month, as investors rush to lock in elevated yields amid limited supply of the tenor.
Source link
Quicktron Robotics, a Chinese maker of self-driving forklifts and other robots used in warehouses, has confidentially filed for a Hong Kong initial public offering that could raise at least $100 million as early as next year, according to people familiar with the matter.
Source link
-
Business3 days agoThe Guardian view on Trump and the Fed: independence is no substitute for accountability | Editorial
-
Tools & Platforms3 weeks ago
Building Trust in Military AI Starts with Opening the Black Box – War on the Rocks
-
Ethics & Policy1 month agoSDAIA Supports Saudi Arabia’s Leadership in Shaping Global AI Ethics, Policy, and Research – وكالة الأنباء السعودية
-
Events & Conferences3 months agoJourney to 1000 models: Scaling Instagram’s recommendation system
-
Jobs & Careers2 months agoMumbai-based Perplexity Alternative Has 60k+ Users Without Funding
-
Funding & Business2 months agoKayak and Expedia race to build AI travel agents that turn social posts into itineraries
-
Education2 months agoVEX Robotics launches AI-powered classroom robotics system
-
Podcasts & Talks2 months agoHappy 4th of July! 🎆 Made with Veo 3 in Gemini
-
Podcasts & Talks2 months agoOpenAI 🤝 @teamganassi
-
Mergers & Acquisitions2 months agoDonald Trump suggests US government review subsidies to Elon Musk’s companies