🌋 OpenAI Seeks Additional Funding for Advanced AI Development

posted  13 Nov 2023
Photo - OpenAI Seeks Additional Funding for Advanced AI Development
OpenAI, the creator of ChatGPT, is seeking additional investments from its primary investor, Microsoft, reports the Financial Times.

The primary goal of this increased funding is to develop a new form of general artificial intelligence (AGI). OpenAI's CEO, Sam Altman, envisions AGI as software with human-like intelligence.

His strategy also includes developing a suite of new tools and a GPT store aimed at monetizing ChatGPT through a revenue-sharing model similar to the Apple App Store. Additionally, OpenAI is developing GPT-5, which requires extensive data training.

Microsoft's previous investment of $10 billion valued OpenAI at $29 billion. Altman anticipates further investments due to the high training costs for complex AI models. Despite OpenAI currently operating at a loss, its revenue is significantly increasing, and its partnership with Microsoft is mutually beneficial.