OpenAI has announced a record $110 billion funding round, doubling its previous valuation to $730 billion. Major investments were made by Amazon ($50 billion), Nvidia ($30 billion), and SoftBank ($30 billion). Notably, Amazon’s investment will start with $15 billion and later ramp up to $50 billion, along with a deal for OpenAI to utilize 2GW of computing power via Amazon’s Trainium chips. OpenAI’s CEO, Sam Altman, emphasized the transformative power of AI in the economy. This funding round will not affect OpenAI’s existing partnership with Microsoft, and the tech giant has the option to invest as well. As competition intensifies among top tech companies in the AI sector, other developments include Alphabet’s Intrinsic transitioning into Google, while SoftBank and Intel collaborate with SambaNova for AI technology. Stay updated with essential sci-tech insights by signing up for Silicon Republic’s Daily Brief.
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