OpenAI, the company behind generative AI engine ChatGPT, announced a new round of venture funding. Backed by investors including SoftBank Group, the company’s latest capital raise of $40 billion brings its post-money valuation up to $300 billion.
OpenAI has recently introduced new tools that allow developers and enterprises to build agents that carry out user-assigned tasks. It has also expanded upon these solutions, improving their capabilities and intelligence with product enhancements such as leveraging speech-to-text and text-to-speech audio models. The company has also improved ChatGPT’s image generation capabilities.
As it works to enhance its technology, OpenAI will invest its new funding in scaling its compute infrastructure. OpenAI aims to advance its AI research to support development and delivery of increasingly powerful tools for ChatGPT’s 500 million weekly users.
