OpenAI targets $500bn valuation as AI market booms
OpenAI is setting its sights on a massive $500 billion valuation, just weeks after raising $8.3 billion that pushed its value to $300 billion.
This leap puts OpenAI among the world's most valuable companies and reflects big investor faith in AI, especially with the market expected to grow 25 times over the next decade.
Fresh funds to ramp up computing power
The fresh funds will help OpenAI ramp up its computing power, mainly through a major project called Stargate with SoftBank and Oracle, aiming to build the world's largest AI supercomputer.
OpenAI also plans to open its first European data center packed with 100,000 NVIDIA chips.
OpenAI faces competition from other tech giants
Even with all this momentum, OpenAI faces tough competition from companies like Anthropic, Google, and Meta.
It's also navigating a tricky partnership with Microsoft as both work out their tech goals and business interests—just another sign of how fast things are moving in AI right now.