OpenAI, the artificial intelligence company behind ChatGPT, said it has finalized a funding round that will bring in $40 billion from SoftBank Group Corp. and other investors at a $300 billion valuation, including money raised.
The AI developer’s financing round is the largest of all time, according to data compiled by research firm PitchBook. The deal values the ChatGPT maker at almost double its previous valuation of $157 billionwhen it raised money in October. Bloomberg reported on March 26 that OpenAI was close to buttoning up the $40 billion financing deal.
“Hundreds of millions people use ChatGPT each week,” Chief Executive Officer Sam Altman said in a statement Monday. “This investment helps us push the frontier and make AI more useful in everyday life.”
SoftBank, which is leading the deal, will initially invest $7.5 billion in the company along with $2.5 billion from an investor syndicate, according to a person familiar with the agreement. Additional investors in the group include Microsoft Corp., Coatue Management, Altimeter Capital Management, and Thrive Capital, said the person, who asked not to be identified discussing private details. There will be a second tranche of $30 billion invested by the end of 2025, including $22.5 billion from SoftBank and $7.5 billion from a syndicate, this person said.
What is this? “Give us another $40 billion and we can have a compelling product”? AI at this point is glorified Clippy. And Altman has already said he needs $7 trillion.
I’ve used ChatGPT in daily work, and while it does things I need it to do, it’s a timesaver, not some sort of view-the-whole-world-in-a-new-way-after-losing-one’s-virginity solution, which is what it’s been sold as since (apologies) release.
Insane to me with how much competition there is that are just as good along with all the free stuff available. It’s not like early YouTube growing an insane amount of content before it started monetizing heavily. OpenAI is one of like a dozen, probably more, generative AI companies that are all close to each other in quality
While I agree with you, ChatGPT is the one that people really know about in the mainstream. It is Normie AI
Also the most accessible - just literally go to a website - don’t even have to login if you don’t want.
DeepSeek you have to install a fucking chrome extension (good luck doing that at work), or you have to create an account.
OpenAI still following the bigtech trend of “get them hooked for free, then make money”
except that “get em hooked for free” part isnt working, nor is the “then make money” part.
There are some that are even more accessible. For example, if you use bing, it is right there at the start
There’s inherent self-selection going on by being on Lemmy in the first place. Plenty of people are happy to just take in what the algorithm feeds to them and are unaware of how URLs work; they just click links.
lol
