OpenAI Seeks New Funding Following Recent Leadership Crisis, Aims for Valuation Exceeding $100 Billion: Reports

OpenAI, the company behind ChatGPT, is reportedly seeking new funding after a recent leadership crisis. Bloomberg reports that the company is in talks with investors to secure a round of investment that could value OpenAI at over $100 billion. If successful, this valuation would make OpenAI the second-largest US startup, following Elon Musk’s SpaceX. OpenAI has been a key player in the artificial intelligence revolution, particularly with the launch of its chatbot, ChatGPT. The company also received a $10 billion investment from Microsoft at the beginning of the year. Last month, OpenAI faced a leadership crisis when CEO Sam Altman was ousted by the board. However, after significant backlash from investors and employees, Altman was reinstated and a new board was put in place. OpenAI is also reportedly in talks with G42, an AI firm based in Abu Dhabi, to secure funding for a chip project called Tigris. The company is seeking $8 billion to $10 billion for this venture. The demand for AI investments has driven the US stock market, with the S&P 500 and Nasdaq 100 both experiencing significant gains this year. OpenAI has not yet responded to requests for comment.