An AI ‘gold rush.' What to know about OpenAI's record $40-billion funding round [Los Angeles Times (CA)]
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Source: Los Angeles Times
tech giants like Google , and rivals including Anthropic and Chinese upstart DeepSeek The investment was the highest ever raised for a startup and places OpenAI at a $300-billion valuation, tying it with TikTok parent company ByteDance and behind the $350-billion valuation for Elon Musk's SpaceX, according to research firm CB Insights. “It's a gold rush of epic proportions of gold rushes before,” said Ben Bajarin, chief executive and principal analyst at San José-based consulting firm Creative Strategies. “They're not sitting on hoards of cash like Amazon, Microsoft and Google … they have to raise that money in order to compete with those three companies and that's what you're seeing.” OpenAI's funding round shows how much investors are willing to pour into technology that has the potential to disrupt entertainment, healthcare, education and other major industries. The rising popularity of ChatGPT, released in 2022, set off a race among tech companies that could change how peopl
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