OpenAI, Microsoft in $14B tussle over equity rights in AI giant: report
Microsoft is reportedly fighting with OpenAI over how much and how much to get parts from the artificial intelligence giant as it prepares to transform from a nonprofit to a for-profit company. It is being Microsoft is seeking a majority stake in OpenAI in exchange for the $14 billion in cash it has previously injected […]
Sam Altman’s OpenAI pursuing switch to for-profit structure to avoid ‘hostile takeovers’: report
OpenAI is reportedly “pursuing” plans to abandon its nonprofit roots and reorganize as a for-profit entity, a move that has led Sam Altman and his allies to threaten a “hostile takeover” and leadership attack. It may protect against opposition. The company's board plans to reorganize as a public benefit corporation, an unusual structure in which […]
ChatGPT owner OpenAI valued at whopping $157B
OpenAI raises $6.6 billion from investors, giving it a post-money valuation of $157 billion, the company announced Wednesday, cementing the ChatGPT maker's position as one of the world's most valuable privately held companies. I made it. The funding attracts returning venture capital investors like Thrive Capital and Khosla Ventures, as well as Microsoft, OpenAI's biggest […]
OpenAI Wants to Build Data Centers Using Electricity Equal to 1% of Entire World’s Consumption
OpenAI's ambitious plans to build AI data centers with unprecedented power requirements have sparked debate about the feasibility and environmental impact of such projects. forbes report OpenAI, a leading generative AI company, recently made a bold proposal to the U.S. government, asking for help building massive data centers, each requiring a staggering 5 gigawatts of […]
OpenAI expects about $5 billion in losses this year, report says
OpenAI reportedly expects losses of about $5 billion this year. new york times and CNBC. The Times originally reported that the company that owns ChatGPT had $3.7 billion in revenue this year and expected revenue to rise to more than $11 billion next year. The Times said the losses were related to general and operating […]
OpenAI Boss Sam Altman Consolidates His Power as *Another* Exec Departs, Org Mulls Going For-Profit
OpenAI, the leading AI company and developer of ChatGPT, is changing its corporate structure with its transformation to a for-profit company, while CEO Sam Altman consolidates his power with another high-profile executive leaving the organization. We are considering a major change in ownership. bloomberg report OpenAI, the company behind the popular chatbot ChatGPT, is reportedly […]
OpenAI undergoes major shakeup
Welcome to The Hill's Technology Newsletter {beacon} technology technology Full text US sanctions virtual currency exchange network for allegedly supporting Russia The U.S. government on Thursday indicted two Russians and sanctioned a cryptocurrency exchange in a bid to crack down on cross-border cybercrime related to cryptocurrencies. The Department of Justice, State Department, and Treasury […]
OpenAI reportedly looking to ditch non-profit control
Perplexity founder and CEO Aravind Srinivas provides insight into the company's search engine in “The Claman Countdown.” According to the report, OpenAI is engaged in a corporate restructuring plan that would remove control from the ChatGPT creator's nonprofit board and transform the organization into a primarily for-profit organization. From Reuters. The plan includes giving CEO […]
OpenAI reportedly mulls $10B payday for Sam Altman
With several top executives heading for retirement, OpenAI is reportedly considering giving CEO Sam Altman a 7% stake while restructuring the artificial intelligence giant as a for-profit company. His 7% stake in Microsoft-backed OpenAI could soon be worth a massive $10.5 billion to Altman, who has never held an ownership stake in the company before. […]
OpenAI pitches Biden admin on need to build massive AI data centers
OpenAI has reportedly appealed to the Biden administration, arguing that amid intensifying global competition, it needs to build massive data centers that consume as much electricity as a large city to process more advanced artificial intelligence models. Last week, a number of tech leaders, including OpenAI CEO Sam Altman and executives from Anthropik, Nvidia, Microsoft […]