OpenAI’s new fundraising is shaking up Silicon Valley
Generative AI is forcing America’s disrupters in chief to think differently
A rare beast may soon lumber across the hills of Silicon Valley: not a $1bn unicorn, nor a $10bn decacorn, but a hectocorn—a startup valued at more than $100bn. OpenAI, the maker of ChatGPT, is understood to be in talks to raise $6.5bn from investors to fund the expansion dreams of its co-founder, Sam Altman. If it pulls off the deal, OpenAI’s valuation will be about $150bn, making it only the second ever $100bn-plus startup in America after SpaceX, a rocketry giant led by Elon Musk (who co-founded OpenAI in 2015 and is now Mr Altman’s nemesis).
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This article appeared in the Business section of the print edition under the headline “The age of the hectocorn”
Business September 21st 2024
From the September 21st 2024 edition
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