OpenAI Raises Record $53.7B, Announces More Open AI Model

OpenAI on March 31 said it raised US$40 billion (S$53.7 billion) in a new funding round that valued the ChatGPT maker at US$300 billion, the biggest capital-raising session ever for a start-up.

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SAN FRANCISCO —

The infusion of cash comes via a partnership with Japanese investment giant SoftBank Group and "enables us to push the frontiers of AI (artificial intelligence) research even further," the San Francisco-based company said in a post on its website.

"Their support will help us continue building AI systems that drive scientific discovery, enable personalized education, enhance human creativity, and pave the way towards AGI (artificial general intelligence) that benefits all of humanity," the company said.

AGI refers to a computing platform with human-level intelligence.

SoftBank said in a release that it is on a mission to realize artificial super intelligence (ASI) that surpasses human intelligence, and that OpenAI is the partner closest to achieving that goal.

"The advancement of OpenAI's AI models is key to achieving AGI and ASI, and massive computing power is essential," SoftBank stated in its rationale for the latest investment in the company.