• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Wednesday, June 18, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Future Tech AI

OpenAI closes $300 million funding round at about $27-29 billion valuation

by Ishaan Negi
April 29, 2023
in AI, Business, Future Tech, Markets, News, Tech, World
Reading Time: 3 mins read
0
OpenAI closes $300 million funding round at about $27-29 billion valuation

Credits: ZDNET

TwitterWhatsappLinkedin

OpenAI, an AI research and development organization has been in the news lately for the controversies that surround its product ChatGPT which is an AI chatbot developed by the firm. The organization was founded in 2015 by the famous billionaire Elon Musk and Sam Altman. They recognized the potential of artificial intelligence in providing a better future to mankind. Over the years, OpenAI and especially ChatGPT have taken over the AI industry. Everyone from school students to office goers are using the AI chatbot to get their work done with ease.

You might also like

India Approves Starlink License Amid Satellite Internet Push

Ram Raises the Bar: New 10-Year, 100,000-Mile Powertrain Warranty Aims to Win Truck Buyers

Mumbai Police Crack Down on Rapido, Uber Bike Taxis for Illegal Operations

What is OpenAI's ChatGPT and Can You Invest? (Updated April 18)

Credits: Investing News Network

OpenAI History:

While the founders of OpenAI realized the potential of AI technology, they were also aware of the potential dangers of it if not developed properly. As a result, OpenAI was formed with the vision of creating AI tools which would be used for the benefit of humanity. OpenAI focused its revenue into creating language based AI models which are capable of understanding and generating human understandable text. The company released GPT 1 in 2018 and has since then released GPT 2, 3 and 4 as well. There are several controversies surrounding the use of this AI chatbot but OpenAI has continued to develop language models. They have been improving their products including ChatGPT to give better results.

The rise in the popularity of OpenAI’s ChatGPT has been significant after the pandemic struck. Students were using it to do their assignments and adults picked up multiple jobs which ChatGPT helped them with. Therefore, employers and teachers among other people have raised questions on the benefits of the AI chatbot. Regardless of its usage, ChatGPT has helped OpenAI gain a significant upper hand in the AI market.

Why invest in AI?

There are several global corporations who have now understood the potential in AI technology. Numerous multinational firms have been spending millions of dollars to get into the AI industry. Some firms have acquired smaller AI corporations for millions. Some of the reasons of the rise in investments in AI technology is:

  1. AI based technologies are known for being more efficient with processing and manipulation of data. They save the time and resources that companies would otherwise spend doing the same work that AI’s could do in seconds.
  2. AI can help organizations develop new products and services. They may also improve user experience and help a business run more efficiently.
  3. AI could save a lot of costs for these firms which have been hugely investing in the AI sector.
  4. AI can analyze large amounts of data and provide helpful details about it which might help organizations make better decisions.
  5. AI technology can help companies develop new products and services as well as improve the already existing ones. A lot of features would not have existed in the absence of Artificial Intelligence including many autonomous driving features.

The Stock Valuation:

In the last few years, there has been a massive rise in the investments made by large corporations in the AI industry. OpenAI who have been involved in the industry for a decent number of years and have recently started dominating the industry. As a result, the AI company has been experiencing a massive amount of cash inflow ever since the success of their AI chatbot: “ChatGPT”. A number of big names including Microsoft has invested in the AI company. The browser, Bing has integrated the AI chatbot into its newer versions and it is one of the few ways to access and use GPT-4 for free at the time.

With such positive developments for the company, the prices of their stocks are on the rise. On Friday, April 28th, the company closed a $300 million share sale and are now valued between 27 and 29 billion dollars.

 

Tags: #chat_GPT#Open_AIAIBingMicrosoftShares
Tweet54SendShare15
Previous Post

Twitter announces a 10% cut on content subscriptions after one year

Next Post

How to protect your car from hail

Ishaan Negi

Ishaan is a student at Sri Venkateswara College, University of Delhi, where he combines his academic pursuits with a deep passion for technology and storytelling. Ever since his school days, Ishaan has been an avid reader, a thoughtful writer, and an articulate speaker. These interests have naturally evolved into a strong inclination towards journalism, especially in the fast-paced world of tech. Known for his balanced approach, Ishaan is committed to presenting unbiased viewpoints and ensuring every story he tells is rooted in facts and multiple perspectives. Whether he’s reporting on emerging startups, corporate developments, or ethical issues in the tech space, he brings a sharp analytical lens and a curiosity-driven mindset to his work. With a strong foundation in research and communication, Ishaan strives to make complex topics accessible to readers while maintaining depth and nuance. His goal is not just to inform but also to spark thoughtful conversations around the ever-evolving tech landscape.

Recommended For You

India Approves Starlink License Amid Satellite Internet Push

by Ishaan Negi
June 18, 2025
0
Elon Musk’s Starlink may soon offer satellite internet services in India

Starlink, SpaceX's satellite internet division, is moving quickly to deploy its services in India in a historic step that would hasten the country's digital revolution. A recent high-profile...

Read more

Ram Raises the Bar: New 10-Year, 100,000-Mile Powertrain Warranty Aims to Win Truck Buyers

by Samir Gautam
June 18, 2025
0
Ram Raises the Bar: New 10-Year, 100,000-Mile Powertrain Warranty Aims to Win Truck Buyers

In a significant move that could reshape the competitive landscape of American pickup trucks, Ram has unveiled an expansive new powertrain warranty, 10 years or 100,000 miles, for...

Read more

Mumbai Police Crack Down on Rapido, Uber Bike Taxis for Illegal Operations

by Ishaan Negi
June 18, 2025
0
Ride-hailing platform Rapido becomes a unicorn following $120 Mn funding

In a dramatic turn of events, Mumbai’s bustling streets have become the battleground between law enforcement and two of India’s biggest mobility players—Rapido and Uber. On Tuesday, the...

Read more
Next Post
How to protect your car from hail

How to protect your car from hail

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?