StartupSuperb

Tag: OpenAI

  • OpenAI in Discussions to Secure Billion Funding at a 0 Billion Valuation

    OpenAI in Discussions to Secure $40 Billion Funding at a $340 Billion Valuation

    OpenAI may already have substantial financial resources at its disposal. However, it is preparing to acquire additional funds, as reported by The Wall Street Journal.

    According to The WSJ, OpenAI is currently negotiating to raise as much as $40 billion in a funding round, which would place the startup’s valuation at an impressive $340 billion. SoftBank is expected to spearhead this round, investing between $15 billion and $25 billion into the developer of ChatGPT, as stated by The WSJ.

    If OpenAI successfully concludes this funding round, it would be a significant achievement for the startup, which was valued at $157 billion in October. The WSJ reports that OpenAI plans to utilise the new funds to support its ongoing operational deficits and advance its Stargate initiative, an ambitious project focused on establishing AI data centres across the United States.

    In 2024, OpenAI reportedly incurred a loss of approximately $5 billion against revenues amounting to $3.7 billion. These losses could continue to escalate. Together with partners like SoftBank, OpenAI aims to allocate billions of dollars to kickstart the Stargate project.

  • “Retro Biosciences: Sam Altman’s Ambitious Journey to Unlocking Human Longevity with Billion Funding”

    “Retro Biosciences: Sam Altman’s Ambitious Journey to Unlocking Human Longevity with $1 Billion Funding”

    Sam Altman, the CEO of OpenAI, is increasing his investment in Retro Biosciences, a San Francisco-based biotech startup aiming to extend the human lifespan by an additional 10 years beyond what is considered a healthy duration.

    Previously, Altman contributed the full seed funding of $180 million for Retro Biosciences. The startup is now seeking to raise a Series A round of $1 billion, with Altman set to participate, as reported by the Financial Times.

    Retro Biosciences aims to initiate trials for medications targeting diseases such as Alzheimer’s. Recently, the company has collaborated with OpenAI to develop a model that transforms ordinary cells into stem cells.

    Joe Betts-LaCroix, the CEO, expressed an ambition to accelerate the process of discovering and developing a drug “in the 2020s.”

    This venture adds to the growing list of billionaire-funded longevity projects, which include Altos Labs, established with $3 billion in 2022 under the backing of Jeff Bezos, and Unity Biotechnology, which has the support of both Bezos and Peter Thiel.