OpenAI $80 Billion Valuation

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Not So Artificial Newsletter
February 20, 2024


Here's a quick look at today's AI briefing

  • OpenAI has finalized a deal with Thrive Capital that raises its valuation to $80B or more — a threefold increase in about 10 months, the New York Times reported Friday. An $80B valuation makes OpenAI the world's third most valuable tech startup, trailing TikTok owner ByteDance at $225B and SpaceX at $150B, per CB Insights data.

  • Reddit has entered into a licensing deal with an unidentified major AI company to train its models on the platform's user-generated content, according to Bloomberg. The deal is said to be worth around $60M annually.

  • Chinese EV maker Xpeng plans to invest 3.5 billion yuan ($486M) in AI R&D aimed at "intelligent driving." CEO He Xiaopeng detailed the plans in a memo to employees on Sunday.

  • Microsoft will invest $2.1B to grow its AI and cloud infrastructure in Spain over two years, according to Vice Chair and President Brad Smith. The news comes shortly after Microsoft said it would pour €3.B ($3.5B) into expanding its AI and cloud computing data centers in Germany over the same timeframe.

  • Gartner predicts that by 2026, traditional search engine use will drop by 25% as AI chatbots and virtual agents take over market share.

  • AI audio startup ElevenLabs has applied its AI sound-producing technology to silent video footage generated by OpenAI's new Sora creator.

  • Dili, an AI startup working to automate due diligence and portfolio management for VC and private equity firms, has secured $3.6M in total funding from investors like Allianz Strategic Investments and Rebel Fund.

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