OpenAI scraps for-profit plan defying investor demands

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SAN FRANCISCO, May 6 — OpenAI CEO Sam Altman announced yesterday that the company behind ChatGPT will continue to be run...

SoftBank’s contribution in March represented the majority of the US$40 billion raised in a funding round that valued the ChatGPT maker at US$300 billion, marking the largest capital-raising event ever for a startup.

The company’s original vision did not contemplate “the needs for hundreds of billions of dollars of compute to train models and serve users,” Altman said.

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Category: EconomyBusiness

Markets: MalaysiaJapan

Topics: Investor OpenAI ChatGPT

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Published On: 2025-05-06 @ 14:37:17 (9 hours ago)

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