OpenAI generates roughly 75% of its revenue from consumer subscriptions to products like its ChatGPT chatbot, with paid plans starting at $20 per month, according to CFO Sarah Friar in an interview with Bloomberg TV. Friar said ChatGPT has 250 million weekly active users, with a 5-6% conversion rate from free to paid. While OpenAI …
AI startup TollBit has raised $24 million in Series A funding. The round, led by Lightspeed Venture Partners, will help the company expand internationally and hire new employees, reports Sara Fischer for Axios. TollBit operates a marketplace that brings publishers and AI companies together and helps simplify their data exchange, both legally and commercially. The …
AI startup Perplexity is in funding talks to double its valuation to $8 billion or more. The company is looking to raise around $500 million in its fourth round of funding within a year, according to the Wall Street Journal. The move comes on the heels of major investments in OpenAI and is intended to …
US companies are investing heavily in computers, data centers, and other infrastructure to fuel the AI boom. According to Joseph Politano, investment in fixed assets has increased rapidly to meet the growing demand for computing power. Hundreds of billions of dollars are being poured into high-end computers, data centers, power plants and more. In the …
Mira Murati, the former chief technology officer at OpenAI, is reportedly seeking funding from venture capitalists for her new AI startup, Reuters reports. Her company aims to develop AI products using proprietary models, although it remains uncertain whether Murati will take on the CEO role. Initial discussions suggest that the startup could raise over $100 …
SynthBee has raised $20 million in funding to develop a new kind of “computing intelligence”, Dean Takahashi reports for VentureBeat. The round was led by Crosspoint Capital Partners. SynthBee plans to use the money to expand its team and proprietary computing intelligence platform. SynthBee’s founder, Rony Abovitz, is known for previous successful startups including Mako …
Generative AI startups are receiving 40% of all venture capital investments in the cloud sector. According to Accel’s Euroscape report, venture funding for cloud startups in the US, Europe, and Israel is projected to rise to $79.2 billion. Ryan Browne reports for CNBC that funding for the cloud industry increased by 27% year-over-year – the …
Galileo, an AI startup led by Vikram Chatterji, has raised $45 million in a Series B funding round, totaling $68 million since its inception three years ago. The company focuses on evaluating AI models to ensure they function effectively and do not generate incorrect information or leak sensitive data, reports Forbes. Its product suite includes …
Decagon, co-founded by Jesse Zhang and Ashwin Sreenivas, has developed an AI-powered customer service system that handles routine tasks for companies like Notion and Duolingo. After a year of rigorous competition, Decagon’s chatbot consistently outperformed rivals in “bake-off” evaluations against tools from competitors like Salesforce. The startup has recently raised $65 million in a Series …
Strella, a startup using AI for market research, has raised $4 million in seed funding, reports VentureBeat. The company, founded by Lydia Hylton and Priya Krishnan, employs artificial intelligence to automate and accelerate customer interviews. According to the founders, the platform can deliver insights up to ten times faster and at half the cost of …