OpenAI Nearly Doubles Valuation to $157 Billion in Funding Round.

OpenAI, the startup behind ChatGPT, has raised $6.6 billion in new funding from investors including Microsoft, SoftBank, and Thrive Capital. This funding round values OpenAI at $157 billion, making it comparable to the market capitalizations of companies like Goldman Sachs and Uber. The round, led by Thrive Capital, also includes investments from Tokyo-based conglomerate SoftBank and AI chip maker Nvidia. OpenAI plans to convert to a for-profit company within two years, and investors have the right to withdraw their money if this conversion does not occur. Despite internal turmoil and the departure of top executives and researchers, OpenAI continues to release new products and has a large user base for ChatGPT. However, the company is not yet profitable and is projected to lose $5 billion this year. [Extracted from the article]