ChatGPT-maker OpenAI has become an AI powerhouse after securing Silicon Valley's largest-ever funding round. The company now faces the challenge of delivering on its promise to become the next Apple or Google.
The funding
OpenAI raised $6.6 billion in cash and secured a $4 billion credit line, catapulting the company to a staggering $157 billion valuation.
There is no question that the investment round spearheaded by CEO Sam Altman and his newly hired CFO Sarah Friar made for a rude awakening for OpenAI rivals Google, Meta, xAI and Amazon-partnered Anthropic.
Despite controversy, investors put down unheard of numbers with only a foggy sense of when they will get a return from a company that was unknown to the general public two years ago.
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