OpenAI's Valuation Skyrockets with $8.3 Billion Funding Boost
OpenAI has secured $8.3 billion in its latest funding round, pushing its valuation to $300 billion. Key investors include Blackstone, TPG, and T. Rowe Price. The company's annual recurring revenue has surged to $13 billion and is expected to exceed $20 billion by year's end.
OpenAI, the leading artificial intelligence company, has achieved a major milestone by raising $8.3 billion in a recent funding round. This influx of capital has catapulted the company's valuation to an impressive $300 billion, months ahead of its initial projections.
A report from NYT DealBook highlights that OpenAI's annual recurring revenue has ballooned to $13 billion, a significant increase from June's figures of $10 billion. Analysts now anticipate this figure will climb beyond $20 billion before the year concludes.
Investment giants such as Blackstone, TPG, and T. Rowe Price were key participants in this funding effort, signaling robust confidence in OpenAI's growth trajectory and technological advancements.
(With inputs from agencies.)
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- T.Rowe Price
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