OpenAI is seeking up to $100 billion in new funding that could value the AI startup at as much as $830 billion, a 66% jump from its $500 billion valuation in October, though details remain uncertain and subject to change[wsj +2].
• The ambitious fundraising comes as the ChatGPT maker faces mounting competitive pressure from Google and Anthropic, prompting CEO Sam Altman to declare a “code red” in December to refocus resources on improving its core chatbot while postponing other projects[finance.yahoo +2].
• Despite leading with over 800 million weekly active users, OpenAI is burning through cash at an unprecedented rate, projecting $143 billion in cumulative negative losses between 2024 and 2029 before reaching profitability around 2030[nerdynav +2].