Dominari Securities CEO Kyle Wool has responded to recent reports that Openai expects revenue to triple to $12.7 billion in 2025.
ChatGpt Creator Openai revealed on Monday that new funds are up to $40 billion.
Money is Artificial Intelligence (AI) Company SoftBank Group serves as the lead investor.
The Japanese investment group said it had agreed to fund Openai by mid-April by mid-April, subject to AI companies that have moved to for-profit organizations by the end of the year.
Open AI CEO Sam Altman will speak on February 3rd at an event in Tokyo titled “Business business business via AI”. (Tomohiro Osumi / Getty Images)
A portion of the investment ($10 billion) will be syndicated by “co-investors” who told sources familiar with Reuters that it would include Microsoft, Court Management, altimeter capital and thriving capital.
Openai only gets up to $2 billion in funding from SoftBank if the company does not switch for-profit organizations.
According to Openai, the deal will lead to a $300 billion “post money” valuation. From a value standpoint, it sits above public companies such as fast food giant McDonald’s and energy company Chevron, which, as of Tuesday, has surpassed $223 billion and $294 billion on market capitalization, giving it a place as well among the most valuable private companies. According to Quartz.
The Openai logo can be seen in this illustration, taken on May 20, 2024. (Photo by Dado Ruvic/Illustration/Reuters)
Openai said $40 billion would “help the frontier of AI research further, helping to expand and deliver computing infrastructure. An increasingly powerful tool For the 500 million people who use ChatGpt every week. ”
SoftBank Support will help you continue to build your AI system that drives Scientific DiscoveriesY, paving the way for AGIs that enable personalized education, increase human creativity and benefit all humankind,” said the AI startup.
Musk-led investor group takes over Openai by submitting unsolicited bids of 97.4B: Report
The Japanese investment company said it had chosen to work with the Stargate Project, which has not existed recently, to create a “follow-on investment” in “Open Alli”, and “choose to further support Openai’s growth and understand the benefits of SBG’s NAV growth. [net asset value]. ”
Openai only gets up to $2 billion in funding from SoftBank if the company does not switch for-profit organizations. (Charly Triballeau/AFP Via/Getty Images)
Openai has partnered with SoftBank and Oracle to establish a network of data centers based on the $500 billion Stargate project.
Other companies such as Microsoft, Nvidia, MGX, ARM are also involved in Stargate.
Softbank says it has a “mission to realize artificial super intelligence (ASI) for the advancement of humanity.” The company’s Vision 2 Fund has poured $2.2 billion into Openai starting from the fall as part of its efforts to make that happen.
Reuters contributed to this report.
