Reputed to be a leader when it comes to AI research and technology, OpenAI is invested in helping AI-focused startups thrive.
American Artificial Intelligence (AI) company OpenAI may have closed an investment fund recently. According to a Securities and Exchange Commission (seconds) filing, the firm raised more than $175 million.
Reputed to be a leader when it comes to AI research and technology, OpenAI is invested in helping AI-focused startups thrive. For this, the platform launched the OpenAI Startup Fund in May 2021.
As revealed by the SEC filing, the initial plan was to raise $100 million to support companies that share its artificial intelligence ambitions. However, the fund has now grown to be much larger than originally anticipated.
OpenAI believes that, together, they can push the boundaries of “how AI can positively impact the world and profoundly change people’s lives”.
The fund is managed by OpenAI CEO Sam Altman and COO Brad Lightkapp and was raised from 14 investors. As per the filing, Microsoft is one of the notable brands endorsing the fund.
OpenAI is already eyeing the future of AI
It may be worth mentioning how OpenAI’s ChatGPT and GPT-4 have recently become a worldwide sensation. Not to mention that the platform recently closed a share sale worth over $300 million, bringing its valuation to roughly $29 billion.
But despite this level of success, Altman continues to point out the need to be mindful of the risks of AI technology. He also urged that the world needs to think ahead about rule of superintendence,
To this, Altman has reportedly indicated that OpenAI could raise another $100 billion in the coming years. According to reports, the fund will be used to develop “artificial general intelligence (AGI) that is advanced enough to improve its capabilities”.
OpenAI’s ChatGPT, one of the most recent Coinspeaker events informed of He solana Has integrated AI into its network.
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