OpenAI raised $6.6 billion funding and is now valued at $157 billion, according to The Wall Street Journal.
Six notes:
1. OpenAI doubled its valuation this year after employees sold existing shares and then the company raised additional funds from multiple tech giants and large private investors.
2. Investors participating in the most recent funding round can withdraw money if the company doesn't become a for-profit company within two years.
3. Thrive Capital led the funding round with $1.25 billion, and Microsoft invested less than $1 billion. SoftBank and Nvidia were new investors in the round, according to the report.
4. OpenAI asked investors not to back its competitors, including several founded by former employees and leaders.
5. The company's ChatGPT has 250 million weekly users and 11 million paid subscribers, according to the report.
6. OpenAI projected a $5 billion loss on $3.7 billion revenue this year, and aims to increase revenue to $11.6 billion next year.