OpenAI was in recent talks due to its investments in early-stage AI companies. According to the U.S. Securities and Exchange Commission, the startup recently transferred legal control of Sam Altman to Lan Hathaway and closed on an additional $5 million. OpenAI is an AI research and deployment company that aims to ensure that artificial general intelligence is used to benefit humanity. Here, we are talking about OpenAI Startup Raises Additional $5 Million Fund.
The startup secured funds from two investors, deposited into OpenAI startup Fund SPV III and L.P., a legal company related directly to the OpenAI startup fund. According to a report by TechCrunch, the fund raised in the first SPV was $10 million in February, and the investment unit closed on $15 million for its second SPV. This startup has now raised SPV three times since February.
The startup raised a fund of $175 million in commitments and $325 million in gross net asset value last year, as written in the SEC document. The biggest investors of OpenAI include Microsoft, a partner and investor in this startup. OpenAI startup fund works as a corporate venture capital unit but still fundraises funds from its external limited partners like Microsoft.
Almost 16 startups received funding from the startup fund, including Harvey, Ambiance Healthcare, an autonomous driving startup, and a humanoid robot startup, Figure AI. OpenAI is funded by over 16 investors, with CORMCO and Thrive Capital being the most recent investors in the startup. Works. Experts predict that AI could add up to $4.4 trillion to the global economy by 2060. Global AI startup funding increased, reaching $50 billion, with $12.2 billion raised in the first quarter alone.
Last week, Sam Altman, the CEO of OpenAI, invested a huge amount in an Israeli cyber security startup, Apex. The startup is known to address AI threats and aims to enhance security measures and develop security solutions for AI applications. The startup is said to be playing a critical role in AI security. OpenAI was founded in 2015 by Sam Altman, Greg Brockman, Peter Thiel, and Elon Musk. However, Elon Musk left the board after 4 years due to disagreements.
Conclusion
According to a U.S. Securities and Exchange Commission, the OpenAI startup has recently transferred legal control Sam Altman to Lan Hathaway and has closed on an additional $5 million. This new funding round saw contributions from its existing investors, including major partners like Microsoft. The startup secured funds from two investors, deposited into OpenAI startup Fund SPV III and L.P., a legal company related directly to the OpenAI startup fund. Almost 16 startups received funding from the startup fund, including Harvey, Ambiance Healthcare, an autonomous driving startup, and a humanoid robot startup, Figure AI.
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