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- OpenAI Locks In Record-Breaking $6.6B Round, Pushing Valuation to $157B
OpenAI Locks In Record-Breaking $6.6B Round, Pushing Valuation to $157B
Damon James
October 03, 2024
October 3rd, 2024
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Today’s Menu
OpenAI Locks In Record-Breaking $6.6B Round, Pushing Valuation to $157B
The Future of Crypto is Gasless—And It’s Closer Than You Think
Markets
Price | 1 Day Change |
|---|
Bitcoin | $60,561 | .8% ⬆️ |
|---|---|---|
Ethereum | $2,338 | 1.3% ⬇️ |
Solana | $135 | .7% ⬇️ |
TODAY IN AI
OpenAI Locks In Record-Breaking $6.6B Round, Pushing Valuation to $157B
OpenAI just secured $6.6B in funding, positioning itself as the world's most well-funded AI startup. Thrive Capital led the round, with major players like Microsoft, Nvidia, and SoftBank joining in.
OpenAI will use the funds to supercharge research, expand computing power, and launch new tools.
Despite competition from rivals like Anthropic, investors still see OpenAI as the leader. With projections of $100B in revenue by 2029, OpenAI's dominance in AI looks more cemented than ever.
It’s interesting to see Nvidia joining in on this funding round because just a few months ago, it looks like Sam Altman was going to try and compete with Jensen Huang head-on.
Powering these LLM’s requires an extraordinary amount of capital and in order for these companies to reach AGI, they’re going to insane tons of funding.
So this move is pushing OpenAI one step closer to AGI.
Today In Crypto
The Future of Crypto is Gasless—And It’s Closer Than You Think
Imagine if Facebook charged users for every post to cover hosting fees. Ridiculous, right? Yet, that's the crypto world's current reality with gas fees. But the tide is turning, and gasless transactions are on the horizon.
Coinbase and Immutable are leading the way, offering wallets that eliminate gas costs for users. In a gasless future, apps handle fees, creating a seamless experience—like how we use AWS without thinking about it.
Why it matters? Mass adoption hinges on removing this friction. No gas = mainstream.
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