OpenAI completed a $6.6 billion fundraising round, doubling its valuation to $157 billion, underlining ongoing excitement for artificial intelligence despite market concerns.
Investments in A.I. start-ups cooled earlier this year as major tech companies like Google, Microsoft and Amazon absorbed several new projects focusing on similar technologies.
Despite rising revenues, OpenAI is projected to lose about $5 billion this year due to the costs associated with developing and running A.I. technologies like ChatGPT.
OpenAI's staff has grown significantly to around 1,700 employees in just nine months, indicating the rapid expansion and investment in its technology and workforce.
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