OpenAI, parent firm of ChatGPT, closes $122bn funding round amid AI boom

Sam Altman, the chief executive officer of OpenAI. Photograph: Bloomberg/Getty ImagesView image in fullscreenSam Altman, the chief executive officer of OpenAI. Photograph: Bloomberg/Getty ImagesOpenAI, parent firm of ChatGPT, closes $122bn funding round amid AI boomCompany said it achieved valuation of $852bn, mentioning in a blogpost it generates $2bn a month in revenueOpenAI announced on Tuesday it had closed a fundraising round of $122bn and achieved a valuation of $852bn. The funding cements the ChatGPT maker as one of the most highly valued private companies in the world.The artificial intelligence firm received multibillion-dollar investments from companies including Amazon, Nvidia and SoftBank, which committed $110bn, according to the Wall Street Journal. OpenAI also allowed a select group of individual investors to contribute about $3bn. The funding round ranks among the highest-ever in Silicon Valley. OpenAI said last month it was expecting to raise $110bn in funding, but upped that figure in its latest announcement.OpenAI’s immense funding announcement takes place as the firm eyes going public on the US stock market later this year, in what is one of the most highly anticipated public offerings in decades. As it barrels towards an initial public offering (IPO), however, the firm is simultaneously fending off numerous lawsuits, advancements from competitors, public distrust and questions over whether the entire AI industry is a bubble.Teenager died after asking Ch...