After Doubling Their Value, Is OpenAI Poised to Conquer the World?

In today’s edition of “We’re Definitely Not in It for the Money,” OpenAI just closed a $157 billion funding round. Yeah, you read that right—$157 billion, which puts the ChatGPT overlords in the same conversation as monopolies like Goldman Sachs, Uber, and AT&T. So much for doing it “for the greater good,” eh?

(Source: New York Post)

Remember when Sam Altman, OpenAI’s fearless leader, testified that this wasn’t about making bank? Well, $6.6 billion from a roster of investment giants, including Microsoft, Thrive Capital, and SoftBank, might suggest otherwise. But hey, who’s counting? (Me, that’s who.)

The latest cash infusion comes courtesy of an all-star lineup of banks and investment firms that sound like they belong in a Wall Street superhero flick: JPMorgan Chase, Goldman Sachs, Morgan Stanley, Citi, and a bunch more. With this squad backing you, you don’t just raise money—you build empires. Toss in a $4 billion revolving credit line (hello, liquidity!) and OpenAI’s cash vault is now sitting pretty at over $10 billion. That’s a lot of GPUs for their AI, (and although Sam will never admit it), probably a few yachts for the execs.

What’s wild is how quickly this valuation blew up. Earlier this year, OpenAI was chilling at $86 billion, following some employee stock sales. Now? They’ve nearly doubled their value in just a few months, leaving us wondering if Sam Altman is secretly running a money-printing machine in the basement.

If you've spent any time doomscrolling on Twitter, you’ve probably come across the hot takes on OpenAI’s identity struggle. Officially, it still operates as a nonprofit—kind of. Investors are actually buying into its for-profit arm, which is expected to convert fully at some point. But of course, the details get blurry. Behind the scenes, it’s like a Silicon Valley version of Suits. 

Key executives have made their exits, rumors about Sam Altman securing a “massive equity slice” (which he denies) are swirling, and there’s an ongoing debate about whether OpenAI’s mission was ever supposed to involve chasing big money. Some insiders believe it’s all gone sideways, like a startup that lost track of its original purpose in the rush to scale.

OpenAI’s rapid rise can largely be credited to the little thing we call ChatGPT. You know, the chatbot that became everyone’s favorite AI therapist, legal advisor, and homework buddy overnight. With 250 million weekly active users and 11 million paying subscribers, ChatGPT has single-handedly thrust OpenAI to the forefront of the AI race.

What does $157 billion buy you? For OpenAI, it’s a strong foothold in the AI race, complete with cutting-edge tech and a steady flow of investment dollars. Rivals like Meta, Google, and Anthropic may be hot on their heels, but with this kind of funding, OpenAI is well-positioned to stay ahead—at least for now.As for Sam Altman, well, he might not be in it for the money, but if this latest round is any indication, there’s plenty of it to go around.

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Stock.News has positions in Uber, AT&T, Microsoft, Meta, and Google.