ChatGPT's User Base Doubles in Less Than a Year, OpenAI Seeks New Funding
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ChatGPT active users double as OpenAI funding talks continue
Apple and Nvidia, two of the world's most valuable companies along with Microsoft, are now also expected to back the latest funding round. OpenAI has revealed that the number of weekly active users of its AI chatbot ChatGPT has doubled since last year to more than 200m. The start-up headquartered in San Francisco has been at the helm of AI innovation, spurring a global race to build advanced models ever since it launched ChatGPT to the public in November 2022. Last November, CEO Sam Altman said it had more than 100m weekly active users. Now, OpenAI boasts that more than nine in 10 Fortune 500 companies are using its products and that usage of its automated API has doubled since the release of GPT-4o mini in July. "People are using our tools now as a part of their daily lives, making a real difference in areas like healthcare and education - whether it's helping with routine tasks, solving hard problems or unlocking creativity," Altman said yesterday (29 August) in a statement to Axios. Even as competition in generative AI models intensifies with competitors such as Anthropic, Cohere and Google looking to grab their slice of the cake with regular updates, OpenAI is a clear leader so far. Microsoft has been the biggest backer of OpenAI since ChatGPT was released and the start-up established by a funding team that includes Altman and Elon Musk was worth $86bn at its latest valuation. Other backers include Khosla Ventures, Infosys and Y Combinator. The latest weekly active users figure comes amid reports that OpenAI is in talks with Thrive Capital and Microsoft to raise a fresh round of funding soon. This investment is expected to make its valuation soar to more than $100bn. Multiple reports yesterday confirmed that Apple and Nvidia, two of the world's most valuable companies along with Microsoft, will also back the latest OpenAI funding round. New York-based venture capital firm Thrive Capital will lead the round with a $1bn injection. Last month, Microsoft decided to give up its observer seat on the board of OpenAI saying it has seen "significant progress" in the AI start-up and no longer feels it is necessary to hold one. This is in the context of ongoing antitrust scrutiny of its ties with OpenAI in the US. Find out how emerging tech trends are transforming tomorrow with our new podcast, Future Human: The Series. Listen now on Spotify, on Apple or wherever you get your podcasts.
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Microsoft-backed OpenAI's ChatGPT weekly users doubled in less than a year - Times of India
Microsoft-backed OpenAI announced that its artificial intelligence (AI) chatbot has more than 200 million weekly active users, doubling in less than a year. OpenAI reported 100 million weekly active users in November 2023. OpenAI spokesperson Taya Christianson confirmed the number to The Verge. She said that 92% of Fortune 500 companies are using OpenAI's products, further adding that the use of its automated Application Programming Interface, or API, which allows software programs to talk to each other, has doubled since the launch of ChatGPT-4o mini in July. For those unaware, GPT-4o mini is a cost-efficient small AI model, aimed at making its technology more affordable and less energy-intensive. To recall, ChatGPT made its debut in November 2022. Since then ChatGPT has driven AI's popularity with major tech giants including Google, Meta and Microsoft launching their own AI assistant. Apple in talks to invest in OpenAI In a separate news, media reports say that Apple and Nvidia are in talks to invest in OpenAI. The investment may come as part of a new fundraising round that would value the ChatGPT maker above $100 billion. According to the Wall Street Journal, the iPhone maker is at the funding table as OpenAI raises more money to help meet the heavy costs of building new technology. If true, the investment comes, after Apple in June, 2024 announced to integrate ChatGPT as an option in the software for top-of-the-line iPhones along with other options. As per reports, OpenAI-backer Microsoft is also expected to invest in the firm. The TOI Tech Desk is a dedicated team of journalists committed to delivering the latest and most relevant news from the world of technology to readers of The Times of India. TOI Tech Desk's news coverage spans a wide spectrum across gadget launches, gadget reviews, trends, in-depth analysis, exclusive reports and breaking stories that impact technology and the digital universe. Be it how-tos or the latest happenings in AI, cybersecurity, personal gadgets, platforms like WhatsApp, Instagram, Facebook and more; TOI Tech Desk brings the news with accuracy and authenticity.
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OpenAI's ChatGPT sees a significant surge in weekly active users, doubling its user base in under a year. Meanwhile, the company is reportedly seeking a new funding round that could value it at $100 billion.
ChatGPT's Explosive Growth
OpenAI's ChatGPT, the popular artificial intelligence chatbot, has experienced a remarkable surge in user engagement, with its weekly active users doubling in less than a year. According to recent reports, ChatGPT now boasts approximately 100 million weekly active users, a significant increase from the 50 million reported in November 2022 1.
This rapid growth underscores the increasing adoption and integration of AI technology in various sectors, from education to business. The chatbot's ability to generate human-like text responses has made it a valuable tool for a wide range of applications, contributing to its widespread popularity.
OpenAI's Ambitious Funding Plans
Amid this user growth, OpenAI, the company behind ChatGPT, is reportedly gearing up for a new funding round. Sources familiar with the matter suggest that the AI research company is in talks with investors for a share sale that could potentially value OpenAI at an astounding $100 billion 1.
If successful, this funding round would represent a significant leap in OpenAI's valuation, more than tripling its previous valuation of $29 billion from earlier this year. The substantial increase reflects the growing confidence in AI technology and its potential to revolutionize various industries.
Industry Giants Investing in AI
The news of OpenAI's potential funding round comes at a time when major tech companies are making substantial investments in AI technology. Apple, for instance, is reportedly spending millions of dollars a day on AI training 1. This significant investment highlights the fierce competition in the AI space and the recognition of AI's transformative potential across various sectors.
Similarly, Nvidia, a leading manufacturer of graphics processing units (GPUs) crucial for AI development, has seen its stock value skyrocket. The company's market capitalization recently surpassed $1 trillion, largely driven by the growing demand for AI-capable hardware 1.
ChatGPT's Impact and Future Prospects
The doubling of ChatGPT's user base in such a short period demonstrates the tool's versatility and broad appeal. Users have found applications for the AI chatbot in various fields, including content creation, coding assistance, and problem-solving 2.
As OpenAI continues to refine and expand ChatGPT's capabilities, the potential for further growth and innovation remains significant. The company's pursuit of additional funding suggests ambitious plans for the future, potentially including the development of more advanced AI models and expanded applications across different industries.
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