OpenAI CEO Sam Altman has expressed his appreciation for Tesla and SpaceX CEO Elon Musk’s initial financial backing in ChatGPT-parent.
What Happened: In an interview with YC president and CEO Garry Tan, Altman acknowledged the crucial role of early funding in OpenAI’s success. Despite their strained relationship today, Altman said that he is “very helpful” for Musk’s early contribution.
Tesla CEO helped co-found OpenAI in 2015 and left the AI startup in 2018. He has since criticized and sued OpenAI, accusing it of deception and using him for competitive advantage.
In March this year, Altman also retaliated against Musk after the tech mogul filed a lawsuit against OpenAI.
During the conversation with Tan, Altman also urged tech entrepreneurs to seize the opportunities presented by the ongoing AI boom.
When asked what advice he would like to give his younger self at Stanford, Altman admitted he might have chosen a different path, especially in light of his deep interest in AI.
He recalled how, despite being told that neural networks were a dead end, he was drawn to the field. Though he sometimes questions whether there might have been a better focus than Loopt.
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Why It Matters: Last month, Altman-led OpenAI’s valuation soared to $157 billion following a funding round that raised more than $6.5 billion.
At the time, OpenAI said that its AI platform ChatGPT is used daily by over 250 million people worldwide to boost their productivity, creativity, and learning.
Thrive Capital led the funding round, with reports indicating a $1 billion investment. OpenAI also held discussions with Apple, Nvidia, and Microsoft, though Cupertino pulled out early.
Microsoft remains OpenAI's largest backer, having already invested $13 billion over the past five years.
OpenAI’s revenue has also seen a significant increase, with its monthly revenue reaching $300 million in August 2024, a 1,700% increase since early 2023.
Previously, it was reported that the company plans to more than double the price of ChatGPT, its chatbot, over the next five years.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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