OPENAI REPORTEDLY IN TALKS TO CLOSE A NEW FUNDING ROUND AT $100B+ VALUATION

Summary from the TLDR newsletter

OpenAI is reportedly in talks to raise funds at a valuation of more than $100 billion, substantially higher than the company's previous $86 billion valuation. Investors include Thrive Capital and Microsoft. The financing will be OpenAI's biggest outside infusion of capital since Microsoft invested nearly $10 billion in January last year. While OpenAI's revenue eclipsed $3.4 billion early this year, the company is on track to lose nearly $5 billion by year end. It has already burned through $8.5 billion on AI training and staffing.