OpenAI secures $80bn valuation

2/18/24 7:00PM

‍OpenAI, the company behind viral generative AI tool ChatGPT, has completed its latest round of fundraising, valuing the company at some $80 billion.

The deal comes after chaos at the company gripped the tech world at the end of last year, when the company’s board of directors abruptly fired CEO Sam Altman, only to have him reinstated days later after a majority of OpenAI employees called for his return.

The fundraising will give the organization the financial firepower to build on ChatGPT, as well as Sora, the text-to-video tool previewed by the company last week. Despite the drama in 2023, the company’s unusual corporate structure remains, with the (capped) for-profit company still overseen by a non-profit board of directors.

More Tech

See all Tech

Form Energy iron-air battery system leaving Form Factory 1

Big batteries are the newest answer to Big Tech’s big energy needs

America’s booming energy demand is creating a powerful case for large-scale energy storage.

Patrick Sisson4/2/26

Over 50 years since it last sent astronauts to the moon, the US is now reentering a very different space race

The successful launch of the Artemis II lunar flyby marked one small step for NASA, while China’s already making giant leaps in its own space program.

Millie Giles4/2/26

Tom Jones

fatcatgpt

4/1/26

OpenAI is now valued at $852 billion — that’s about 5 Disneys

The company just closed out the biggest funding round in Silicon Valley history, raising $122 billion.

Sam Altman at BlackRock Infrastructure Summit Held In Washington, DC

Claire Yubin Oh

waymo’s world

3/30/26

Waymo’s now serving more than 500,000 paid robotaxi rides every week

The Alphabet-owned company grew its ridership more than tenfold in less than two years.

Waymo Self-Driving Electric Car Sighted In London

Jon Keegan3/27/26

Judge blocks Pentagon’s move to blacklist Anthropic

A federal judge in Northern California has granted a preliminary injunction blocking the Pentagon from labeling Anthropic as a national security supply chain risk.

The ruling temporarily prevents the Defense Department from restricting the AI company’s access to federal contracts amid a dispute over its refusal to allow certain military and surveillance uses of its technology. The designation could also have shifted lucrative government work toward competitors, including OpenAI.

Earlier this month, Anthropic, the company behind Claude, sued 17 federal agencies and their heads, alleging the government exceeded its statutory authority.

Latest Stories

Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, Robinhood Derivatives, LLC, or Robinhood Money, LLC. Futures and event contracts are offered through Robinhood Derivatives, LLC.