OpenAI has achieved $10 billion in annual recurring revenue, nearly doubling its performance from $5.5 billion last year. The milestone comes less than three years after launching ChatGPT. The revenue figure encompasses consumer ChatGPT subscriptions, business products, and API services, but excludes Microsoft licensing deals and large one-time contracts, according to an OpenAI spokesperson. Despite …
The $1.5 billion AI startup Builder.ai has filed for bankruptcy after revelations that it used human developers instead of artificial intelligence. Vinay Patel reports for International Business Times that the company’s supposed AI system was actually operated by 700 Indian programmers pretending to be automated bots. Builder.ai raised over $450 million from prominent investors including …
Analyst firm Gartner forecasts that global spending on generative AI will reach $644 billion in 2025, representing a 76.4% increase from 2024. According to the report detailed by Sean Michael Kerner in VentureBeat, hardware will account for approximately 80% of this spending, with devices alone claiming $398.3 billion. John Lovelock, distinguished VP analyst at Gartner, …
OpenAI has closed a historic $40 billion funding round, marking the largest private tech investment ever recorded. The deal, led by SoftBank with a $30 billion commitment, values the ChatGPT maker at $300 billion, placing it among the world’s most valuable private companies alongside SpaceX ($350 billion) and ByteDance. The investment syndicate includes Microsoft, Coatue, …
Google owns 14 percent of AI startup Anthropic, according to legal filings obtained by The New York Times. As reported by Cade Metz, Nico Grant, and David McCabe, Google’s investment comes with significant limitations: the tech giant cannot own more than 15 percent of the company and holds no voting rights or board seats. The …
Ilya Sutskever’s secretive AI company Safe Superintelligence (SSI) has reached a valuation of $30 billion in its latest funding round. According to reporting by Berber Jin and Deepa Seetharaman from The Wall Street Journal, the company is raising approximately $2 billion from investors. Sutskever, who previously served as OpenAI’s chief scientist and helped develop ChatGPT, …
Anthropic, an AI startup founded in 2021 by former OpenAI researchers including siblings Dario and Daniela Amodei, has secured a significant $3.5 billion in Series E funding. This latest investment round, led by Lightspeed Venture Partners with a $1 billion contribution, values the company at $61.5 billion post-money. The funding attracted participation from several prominent …
AI company Anthropic has secured $3.5 billion in new funding at a $61.5 billion valuation, according to Wall Street Journal reporter Berber Jin. The company behind the Claude chatbot initially sought $2 billion but increased the amount during investor talks. The funding round includes participation from Lightspeed Venture Partners, General Catalyst, and Bessemer Venture Partners, …
Ilya Sutskever’s Safe Superintelligence (SSI) is raising over $1 billion at a valuation exceeding $30 billion, Bloomberg’s Kate Clark reports. Greenoaks Capital Partners leads the investment with $500 million. The startup, co-founded by Sutskever after leaving his position as OpenAI’s Chief Scientist, focuses exclusively on developing safe AI systems. SSI’s valuation has increased significantly from …
The European Union has unveiled a major AI investment initiative called InvestAI, aimed at competing with the United States and China. According to Wall Street Journal reporters Edith Hancock and Mauro Orru, the program combines 150 billion euros in private investments with 50 billion euros in EU funding over five years. European Commission President Ursula …