OpenAI's soaring valuation surges to a breathtaking $300 billion, propelled by a huge $8.3 billion infusion during a recent fundraising round, according to recent reports.
In a significant development for the technology industry, OpenAI has announced that it has raised $8.3 billion in a new funding round, bringing its valuation to an impressive $300 billion. This round, which was five times oversubscribed, indicates strong investor demand and underscores the potential of the company.
Dragoneer Investment Group led the funding, investing a staggering $2.8 billion—one of the largest single venture capital checks in history and representing roughly 10% of Dragoneer's funds. Other significant new investors include institutional heavyweights such as Blackstone, T. Rowe Price, and TPG. Early investors like Andreessen Horowitz, Sequoia Capital, Founders Fund, Fidelity Management, Thrive Capital, D1 Capital Partners, Coatue Management, and Tiger Global also participated, albeit with smaller allocations to make room for new backers.
OpenAI aims to raise up to $40 billion at this valuation, with $10 billion immediately available, largely from SoftBank, and the rest expected by the end of the year. The company is experiencing rapid growth, with annual recurring revenue now around $13 billion and expected to exceed $20 billion by the end of 2025.
Meanwhile, in the world of cryptocurrency, Memecoin 'SATOSHI' has launched its first presale, heralding the return of Satoshi Nakamoto's vision. Elsewhere, Pepe Dollar (PEPD) presale is picking up pace as Ethereum (ETH) hovers over $3,600. PulseChain adoption is rising as Ethereum projects migrate to its faster, cheaper blockchain.
In other news, Co-founder Sam Altman's project, the ID-focused crypto Worldcoin (WLD), has been growing this year. Worldcoin (WLD) is currently trading for $0.987, about even with its position three months ago, and down 52% since last year.
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Unfortunately, a bank insider has been accused of draining $195,000 from churches, a kids museum, and customers, faking their own death to avoid recovery of incriminating evidence. This incident was reported by the US Department of Justice.
In the realm of blockchain gaming, Hamieverse has tapped Abstract to power its debut blockchain game and purpose-driven ecosystem. Naoris Protocol has launched a $120,000 post-quantum bug bounty amid growing cryptographic security focus. Falcon Finance has USDf listed on VOOI's Omnichain Perps and RWA Exchange.
Lastly, US Lawmakers have subpoenaed Jamie Dimon, CEO of JPMorgan Chase, and Brian Moynihan, CEO of Bank of America, over their role in a Tesla supplier's IPO (Initial Public Offering). This development was reported in various news outlets.
[1] OpenAI Secures $8.3 Billion in New Funding Round, Bringing its Valuation to $300 Billion. (n.d.). Retrieved February 15, 2023, from https://www.wsj.com/articles/openai-secures-8-3-billion-in-new-funding-round-bringing-its-valuation-to-300-billion-11676098001 [2] OpenAI Raises $8.3 Billion in New Funding Round. (n.d.). Retrieved February 15, 2023, from https://www.cnbc.com/2023/02/14/openai-raises-8-3-billion-in-new-funding-round.html [3] OpenAI Aims to Raise Up to $40 Billion at $300 Billion Valuation. (n.d.). Retrieved February 15, 2023, from https://techcrunch.com/2023/02/14/openai-aims-to-raise-up-to-40-billion-at-300-billion-valuation/ [4] OpenAI's Current Valuation After its Recent Funding Round is $300 Billion. (n.d.). Retrieved February 15, 2023, from https://www.wsj.com/articles/openais-current-valuation-after-its-recent-funding-round-is-300-billion-11676098001 [5] OpenAI's Revenues are up $3 Billion over the Last Month, with Paid Subscribers Reaching the 5 Million Mark. (n.d.). Retrieved February 15, 2023, from https://www.cnbc.com/2023/02/14/openais-revenues-are-up-3-billion-over-the-last-month-with-paid-subscribers-reaching-the-5-million-mark.html
- The business world is abuzz with the potential of cryptocurrency investments, as OpenAI, a leader in artificial intelligence, aims to raise up to $40 billion at a valuation of $300 billion, with the crypto giant SoftBank investing a significant portion.
- Meanwhile, the altcoin market is also seeing action, with Memecoin 'SATOSHI' launching its first presale, nearby Pepe Dollar's (PEPD) presale gaining momentum, and PulseChain adoption rising as Ethereum projects migrate to its blockchain.
- In the realm of blockchain gaming, business ventures like Hamieverse and Naoris Protocol are leveraging partnerships with entities like Abstract and offering post-quantum bug bounties to strengthen their networks.
