OpenAI raised $122 billion in its latest funding round, the artificial intelligence giant announced Tuesday, bringing its post-money valuation to US$852 billion (AU$1.23 trillion).
Key Facts
The funding round was backed by OpenAI partners such as Amazon, Nvidia, Microsoft and SoftBank, according to the announcement.
The latest valuation for the company comes a little more than a month after it announced $110 billion in funding at a $730 billion valuation.
OpenAI opened this month’s funding round to individual investors, who raised over $3 billion.
Big Number
$2 billion. That is how much money OpenAI is raking in every month, according to Tuesday’s announcement. Last year, it made $13.1 billion in revenue.
Surprising Fact
OpenAI is not yet profitable despite its strong revenue numbers. The company is burning money on operating costs driven by expenditures from training AI models and creating infrastructure. OpenAI will spend half a trillion dollars by 2030 if it maintains its current pace, according to The Guardian.
This is a developing story. Check back for updates.
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