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OpenAI in talks to raise funding at over $100 billion valuation, WSJ reports

Published 08/28/2024, 03:40 PM
Updated 08/28/2024, 03:51 PM
© Reuters. FILE PHOTO: OpenAI logo is seen in this illustration taken May 20, 2024. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) - OpenAI, the startup behind the popular ChatGPT, is reportedly in discussions to raise billions of dollars in a new funding round that could see it valued at above $100 billion, the Wall Street Journal reported on Wednesday.

The funding round is expected to be led by venture capital firm Thrive Capital, which is poised to invest approximately $1 billion, the report said, citing people familiar with the matter.

Tech giant and OpenAI backer Microsoft (NASDAQ:MSFT) is also expected to put in money, it added.

© Reuters. FILE PHOTO: OpenAI logo is seen in this illustration taken May 20, 2024. REUTERS/Dado Ruvic/Illustration/File Photo

OpenAI, Microsoft and Thrive Capital did not immediately respond to Reuters' requests for comment.

ChatGPT, a chatbot that can generate human-like responses based on user prompts, has driven AI's popularity and fueled a meteoric rise in the valuation of the San Francisco-based firm.

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