Sam Altman: "I want all investors to have access"
Signals plans for IPO
OpenAI, the developer behind ChatGPT, has secured a new investment totaling $110 billion (approximately KRW 160 trillion). With its corporate valuation reaching as high as KRW 1,200 trillion, CEO Sam Altman has effectively formalized plans to pursue an initial public offering (IPO).
On the 27th (local time), OpenAI announced that it had raised this amount in new funding from Amazon, SoftBank, and Nvidia. With this latest investment, OpenAI’s total valuation is now estimated at $840 billion (about KRW 1,200 trillion).
Of the total new investment, Amazon accounted for nearly half, investing $50 billion. The company will make an initial investment of $15 billion, with the remaining $35 billion to be executed within a few months if 'certain conditions' are met. While neither company disclosed what these conditions are, local media speculate that it could be tied to OpenAI’s IPO or a declaration of achieving artificial general intelligence (AGI).
SoftBank, led by Chairman Masayoshi Son, also invested an additional $30 billion in this round. Its cumulative investment in OpenAI now stands at $64.6 billion, giving it an ownership stake of about 13%. Nvidia invested $30 billion as well.
With this investment, OpenAI announced that it has entered into a strategic partnership with Amazon and secured next-generation inference computing capabilities with Nvidia. OpenAI will utilize Amazon’s proprietary AI chips through Amazon Web Services (AWS) data center infrastructure. The two companies will also jointly develop customized AI models for use by Amazon developers.
Microsoft (MS), which had previously been OpenAI’s largest investor, did not participate in this round but emphasized that its relationship with OpenAI remains strong. In a joint statement released the same day, OpenAI and Microsoft said, “Nothing announced today changes the terms of the relationship between Microsoft and OpenAI,” adding, “The commercial and revenue-sharing relationship will remain in place, and OpenAI’s proprietary models will continue to run on the Azure cloud platform.”
Meanwhile, with OpenAI’s valuation soaring by about 1.5 times in just four months, the so-called ‘AI bubble’ debate is likely to intensify. Some on Wall Street have raised suspicions of ‘circular trading,’ questioning whether OpenAI’s investors are making massive investments simply to ensure that their own chips and data center infrastructure are used. In an interview with local media, CEO Altman said, “I understand where the concerns come from,” but added, “When new revenue flows into the entire AI ecosystem, such deals make sense.” He further stated, “If AI companies become as important as we think they will, I want all investors to have access,” effectively signaling the company’s intention to go public.
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