The news: OpenAI is on the verge of finalizing a $40 billion founding round, which could nearly double the AI pioneer’s valuation to $300 billion, per Bloomberg.
While OpenAI’s escalating value is representative of growing investments in AI, it also intensifies investor pressure for the ChatGPT-maker to maintain its industry lead, which is now being challenged on a number of fronts.
The startup generated $3.7 billion in revenues for 2024, and is looking to triple revenues for this year to $12.7 billion, per Bloomberg.