Bloomberg News, as relayed by Investing.com, reports that OpenAI is negotiating with several United Arab Emirates investment funds, including Abu Dhabi's MGX, to anchor a funding round of $30 billion. The UAE funds have discussed putting in up to $10 billion…
Finance angle The finance angle is the price: about $1.4 trillion, against the $852 billion at which OpenAI raised $122 billion in March, a rise of roughly 64% in seven months while the company stays private. The $30 billion would be paid by Gulf sovereign-backed funds and asset managers and spent largely on computing capacity,…
Read the report at Investing.com via Yahoo Finance ↗
Nasdaq-listed AI chipmaker Cerebras Systems rose as much as 11% in early trading on Monday and, by Yahoo Finance's account, finished the day about 9% higher. OpenAI chief executive Sam Altman had posted that Cerebras is a close partner and that the two…
Finance angle OpenAI is Cerebras's anchor customer: under an agreement announced in January and valued at $10 billion, Cerebras is contracted to supply 750 megawatts of computing capacity through 2028. Doubt about that single relationship therefore goes straight to Cerebras's revenue visibility, which is why one post moved the…
Read the report at Proactive ↗
SoftBank Group paid the third and final $10 billion tranche of its $30 billion follow-on investment in OpenAI on October 1 through Vision Fund 2. Its total investment in the ChatGPT maker is now $64.6 billion for a stake of about 13%. The payment was…
Finance angle The $30 billion was SoftBank's share of the $122 billion round that valued OpenAI at $852 billion, alongside $50 billion committed by Amazon and $30 billion by Nvidia. OpenAI receives the cash and spends much of it on computing capacity, which is revenue for chip and cloud suppliers. SoftBank carries the financing…
Read the report at The Next Web ↗
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