OpenAI Raises $6.6 Billion in Funds at $157 Billion Value

Published On Oct 2, 2024, 6:03 PM

OpenAI has successfully raised $6.6 billion in funding, leading to a valuation of $157 billion. This funding round was backed by several key investors, including Thrive Capital and Microsoft, with Microsoft contributing an additional $750 million to its previous investment of $13 billion. OpenAI plans to use this influx of cash to expand its AI research and enhance computing capabilities. The significant valuation has sparked discussions in Silicon Valley regarding the potential for OpenAI to go public, given projections of generating over $10 billion in revenue next year.

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Stock Forecasts

MSFTView MSFT chart on TradingView

Positive

Given OpenAI's increased funding and strong market position in artificial intelligence, its stock is likely to see positive growth. The backing of significant investors signals confidence in its future profitability and potential public offering.

NVDAView NVDA chart on TradingView

Positive

Nvidia's continuing support and involvement with OpenAI, especially their key partnership in the AI sector, indicates a potential upside for Nvidia's stock as AI applications grow.

ARKKView ARKK chart on TradingView

Positive

Investors' belief in AI's potential and the importance of OpenAI as a leading player suggest positive sentiment around technology-focused ETFs that incorporate major players like Microsoft and Nvidia.

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