ChatGPT Maker OpenAI Raises More Money, Boosting Valuation To $157B, Double Its Year-Ago Level

OpenAI, the artificial intelligence known for ChatGPT, said it has raised $6.6 billion in new funding.

The new funds boost the company’s valuation to $157 billion, double its level at the start of the year.

“We are making progress on our mission to ensure that artificial general intelligence benefits all of humanity,” the company said in an announcement. “Every week, over 250 million people around the world use ChatGPT to enhance their work, creativity, and learning. Across industries, businesses are improving productivity and operations, and developers are leveraging our platform to create a new generation of applications. And we’re only getting started.”

Hollywood has been on edge about AI and standard-bearers like ChatGPT over the past couple of years. The technology became one of the key bargaining points for the WGA and SAG-AFTRA when the guilds went on strike in 2023.

Since the strikes were resolved, the production process has continued to be shaped by AI tools. Last month, Lionsgate drew widespread attention by forming an alliance with AI research company Runway. The two companies said the partnership would yield a new model for the company’s film and TV production operations and also enhance the value of library titles.

MORE to come …