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OpenAI isn’t going anywhere: raises $6.6B at $157B valuation
For developers building products atop the company's AI models and frameworks, this is probably welcome news.
“The new funding will allow us to double down on our leadership in frontier AI research, increase compute capacity, and continue building tools that help people solve hard problems,” the company wrote in a short blog post. However, the news was still greeted with skepticism among AI critics including the outspoken tech public relations expert and tech writer Ed Zitron, who’s latest newsletter is headlined “ OpenAI is a bad business ” and argues that OpenAI’s decision to take a reported $500 million from the infamous Softbank Venture Fund — which has notably invested in duds like WeWork — combined with its reliance on individual ChatGPT subscriptions rather than API usage or licensing, suggests it is not well positioned to succeed as a for-profit in the future. Musk, for his part, took the news of OpenAI’s reported conditions on exclusive funding with his typical blunt criticism, calling the company evil on his X account.
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