OpenAI raises $6.6B and is now valued at $157B

Author

Noel Moldvai
October 03, 2024

Good Afternoon! OpenAI has completed it’s fresh massive funding round, along with another sizable funding round in the world of AI.

TL;DR

  • OpenAI raises $6.6B and is now valued at $157B

  • Microsoft to make $4.8B AI, cloud investment in Italy

  • AI coding startup Poolside raises $500M from eBay, Nvidia, and others

  • Lightspeed Venture Partners looking to raise $7B for new funds

OpenAI raises $6.6B and is now valued at $157B

OpenAI raised $6.6 billion, valuing it at $157 billion. The round, led by Thrive Capital, brings its total funding to $17.9 billion. Funds will support AI research, compute capacity, and product development.

Microsoft to make $4.8B AI, cloud investment in Italy

Microsoft plans to invest €4.3 billion ($4.8 billion) in AI and cloud infrastructure in northern Italy, marking its largest investment in the country. The ItalyNorth cloud region will be one of Europe’s biggest data centers, serving as a hub for the Mediterranean and North Africa.

AI coding startup Poolside raises $500M from eBay, Nvidia, and others

Poolside, an AI-powered software development platform, raised $500 million in a Series B round led by Bain Capital Ventures, with participation from eBay Ventures and Nvidia. This brings Poolside's total funding to $626 million and its valuation to $3 billion. The funds will support R&D, go-to-market efforts, and model training.

Lightspeed Venture Partners looking to raise $7B for new funds

The key insights from industry experts include the VC market's robust $130 billion investment in AI and blockchain, highlighting these technologies' growth and impact across sectors. AI and blockchain now attract 20% of VC funds, transforming various industries. Additionally, venture capitalists are focusing on early-stage investments and diversification to navigate through uncertainties, emphasizing strategic agility in their approach.

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Until next week.

Cheerio,
-Noel