OpenAI closes its monster $10B funding round at $27B-29B valuation

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OpenAI, the artificial intelligence research lab, has closed a $300m share sale at a valuation of $27bn to $29bn. The funds will be used to expand its team and invest in new technologies. The company was founded in 2015 by a group of tech luminaries, including Tesla CEO Elon Musk, and has since been backed by investors including Microsoft and LinkedIn co-founder Reid Hoffman. OpenAI has developed a range of AI tools, including the GPT-3 language model, which can generate human-like text. The company has also been involved in developing AI for robotics and other applications. The latest funding round comes after OpenAI raised $1bn from Microsoft in 2020.

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