Artificial intelligence powerhouse OpenAI is in talks to raise additional funds at a $150 billion valuation for the company, according to a Bloomberg report. This valuation would place the company behind ChatGPT among the most valuable startups globally. The company is seeking to raise $6.5 billion, with the round expected to be led by venture capital firm Thrive Capital.
Catalysts co-hosts Seana Smith and Madison Mills break down the details.
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This post was written by Angel Smith
Let's take a look at three trending stories today. First up, Open AI receiving a new hefty valuation of $150 billion. This is according to a report from Bloomberg. The company is reportedly in talks to raise $6.5 billion in a round led by Thrive Capital, not necessarily a huge surprise given the fact that Open AI very much is and viewed by the market, by Wall Street as a leader within the AI race right now. So, of course, with Chat GPT really putting the spotlight on them, their partnership with Microsoft. But I think when you look at the amount of money raised, one of the big takeaways for me was what maybe this ultimately tells us about their going public plans and maybe this could further delay it, allow the company to stay private for longer, which you could view to be very welcome here, especially given the uncertainty right now.
Yeah, I think this is why there's also so much focus on private credit right now. Obviously for a million reasons, but AI in particular, we see a lot of these companies continue to stay private amid higher interest rates, valuation questions, a ton of factors. But this was something that came up a lot at the conference, the idea that these AI plays as soon as they go public, you're going to see a hockey stick response to a lot of these names, given the interest in AI and of course, the potential impact.