OpenAI Fundraising Set to Vault Startup's Valuation to $150 Billion.

OpenAI, a prominent AI startup, is in discussions to raise $6.5 billion from investors, which would value the company at $150 billion. This new valuation is significantly higher than its previous valuation of $86 billion earlier this year. OpenAI is also in talks to secure $5 billion in debt from banks through a revolving credit facility. The funding round is expected to be led by Thrive Capital, with participation from Microsoft, Apple, and Nvidia. OpenAI's products, such as its chatbot ChatGPT, have garnered attention and investment in the rapidly evolving AI industry. The company has undergone changes in leadership and is seeking financing to support its computing power needs and other expenses. [Extracted from the article]

Copyright of Bloomberg.com is the property of Bloomberg, L.P. and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)