OpenAI has secured a flexible credit line of $4 billion, which can be increased to $6 billion. This is reported by Hayden Field for CNBC. The additional funds provide the company, recently valued at $157 billion, with a total liquidity of over $10 billion. Several major banks, including JPMorgan Chase, Citi, and Goldman Sachs, participated …
OpenAI (ChatGPT) and Anthropic (Claude) show clear differences in their business models and revenue streams. According to Tanay Jaipuria, OpenAI is expected to generate five times more revenue than Anthropic by the end of 2024. While OpenAI generates 73% of its revenue from ChatGPT subscriptions, 60-75% of Anthropic’s revenue comes from third-party APIs, primarily through …
OpenAI has raised $6.6 billion in a new funding round, valuing the company at $157 billion, according to Bloomberg. The investment aims to help OpenAI maintain its leading position in generative AI technology. It is one of the largest private investments ever made. The funding round was led by Thrive Capital. Investors include Microsoft, Nvidia, …
A new startup called Crescendo has raised $50 million and is now valued at $500 million. The company offers AI-powered customer service solutions, competing with traditional call centers. Co-founder Anand Chandrasekaran told Bloomberg that Crescendo uses AI assistants with human backup to handle customer inquiries faster and more accurately. The funding came from investors including …
Series Entertainment has closed a $28 million funding round, according to an SEC document and confirmation from the company, as reported by Julie Bort for TechCrunch. Investors include Netflix, Dell Technologies Capital, and existing backers Andreessen Horowitz, BITKRAFT, and F4 Fund. Series is developing an AI-powered platform for game developers called the Rho Engine. The …
Startup Artisan has raised $11.5 million in seed funding to develop AI-powered “employees” for sales teams. The company offers an AI assistant named Ava that automates tasks such as lead research and personalized email creation. CEO Jaspar Carmichael-Jack told VentureBeat that Artisan has already secured over 120 customers and reached $1 million in annual revenue. …
AI chipmaker Cerebras Systems has filed for an initial public offering on the Nasdaq. The company plans to trade under the ticker symbol “CBRS,” according to the prospectus. Cerebras competes with Nvidia in the AI chip market, claiming its WSE-3 chip has more cores and memory than Nvidia’s popular H100. In the first six months …
Top AI companies are reaching millions in revenue within a year – significantly earlier in the lifecycle than comparable technology companies outside of the AI sector, according to an analysis by payment provider Stripe. Specifically, the top 100 revenue-generating AI companies on Stripe’s platform took a median of 11 months to reach $1 million in …
Anthropic, the company behind the AI Claude, is apparently preparing a new round of funding. This is according to a report from The Information. According to the report, the startup could be valued between $30 billion to $40 billion. This would be roughly double the value of a previous round of funding earlier this year. …
Alexandr Wang, the 27-year-old founder of Scale AI, has built a billion-dollar company that is laying the groundwork for modern AI development. As Berber Jin reports in an article for the Wall Street Journal, Scale AI employs more than 100,000 contractors worldwide who write text and label images to train chatbots and other AI systems. …