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Deal 11. Open AI
The content on the page is limited to qualified investors
2015
San Francisco, California, USA
251-500
Latest round valuation (23 Jan)
Artificial Intelligence
Machine learning
Latest round investments
$29B
$10B
Deal 11. Ledger
>
Total investments
$11b
Company & Products
OpenAI specializes in the development of artificial intelligence technologies with the potential to exceed human capabilities. Their machine-learning algorithms are applied to solve various tasks, including natural language processing, computer vision, robotics, and more.
Founded in late 2015, the company was established by three individuals: Elon Musk, the former president of YCombinator, Sam Altman, and Greg Brockman, who serves as the co-founder and technical director of Stripe
Founded in late 2015, the company was established by three individuals: Elon Musk, the former president of YCombinator, Sam Altman, and Greg Brockman, who serves as the co-founder and technical director of Stripe
ChatGPT
OpenAI API
OpenAI Robotics
ChatGPT, the most advanced language model globally, has earned the moniker "Google Killer" due to its remarkable ability to respond to search queries using content sourced from various origins.
The platform has set a historic pace of audience expansion, reaching an impressive milestone of 100 million monthly users just two months after its launch. In contrast, TikTok and Instagram took 9 months and 2.5 years, respectively, to achieve the same level of user base.
ChatGPT offers versatility, serving purposes such as text generation, search query responses, facilitating business conversations, coding, and more.
In the foreseeable future, this artificial intelligence model holds the potential to replace certain professionals in the job market, including copywriters, customer service representatives, and even programmers. Furthermore, ChatGPT can be seamlessly integrated into numerous information services, thereby enhancing their overall effectiveness.
Microsoft, the primary investor and partner of OpenAI, has intentions to seamlessly integrate ChatGPT into their core products, which include the Office suite and the Bing search engine.
The platform has set a historic pace of audience expansion, reaching an impressive milestone of 100 million monthly users just two months after its launch. In contrast, TikTok and Instagram took 9 months and 2.5 years, respectively, to achieve the same level of user base.
ChatGPT offers versatility, serving purposes such as text generation, search query responses, facilitating business conversations, coding, and more.
In the foreseeable future, this artificial intelligence model holds the potential to replace certain professionals in the job market, including copywriters, customer service representatives, and even programmers. Furthermore, ChatGPT can be seamlessly integrated into numerous information services, thereby enhancing their overall effectiveness.
Microsoft, the primary investor and partner of OpenAI, has intentions to seamlessly integrate ChatGPT into their core products, which include the Office suite and the Bing search engine.
OpenAI API offers convenient access for third-party developers to OpenAI's models through a user-friendly interface.
This platform is designed for the training and deployment of robotic systems.
OpenAI Gym
DALL-E
It's a toolkit that enables the development and comparison of reinforcement learning algorithms.
DALL-E is a model specifically created to produce highquality images in response to textual descriptions. For example, if a user inputs a request like "a living room with two white armchairs and a painting of the Colosseum above the fireplace," the model will generate an image that matches this description. To train this model, a vast dataset of 12 billion illustrations was used.
The expected revenue for OpenAI in 2024
The expected revenue for OpenAI in 2023
Company revenue in 2023
$1B.
$200M.
$35M.
Financial metrics
Investors
The company anticipates generating $1 billion in revenue in 2024, with an expected $200 million in 2023. As reported by Fortune magazine, their revenue for 2022 was $35 million.
OpenAI's principal income source is set to be the ChatGPT language model. They recently launched a paid version of the service called ChatGPT Plus, priced at $20 per month, offering subscribers various advantages, including peaktime access, quicker response times, and prioritized access to new features.
Presently, OpenAI's revenue primarily comes from the sales of the OpenAI API and tokens that can be utilized for tasks like converting text into images using the DALL-E model.
OpenAI's principal income source is set to be the ChatGPT language model. They recently launched a paid version of the service called ChatGPT Plus, priced at $20 per month, offering subscribers various advantages, including peaktime access, quicker response times, and prioritized access to new features.
Presently, OpenAI's revenue primarily comes from the sales of the OpenAI API and tokens that can be utilized for tasks like converting text into images using the DALL-E model.
Microsoft, Elon Musk, Сэм Альтман, Andreessen Horowitz, Fidelity, Obvious Ventures, Matthew Brown Companies, Reid Hoffman Foundation, Khosla Ventures
The Team
SAM ALTMAN
GREG BROCKMAN
ILYA SUTSKEVER
The CEO, a former partner and president of YCombinator. He has been an investor in companies like Airbnb, Reddit, and others. In 2015, he was recognized as the best investor under 30 according to Forbes.
Chairman and President, former Chief Technology Officer of Stripe. A graduate of Harvard and MIT.
Chief Scientist
OpenAI has a total of approximately 500 employees.
ELON MUSK
Co-founder and Investor
WHY WE ARE INVESTING IN THE PROJECT?
OpenAI is among the leading companies in the artificial + intelligence development domain. In just the initial days following its launch, its service, ChatGPT, rapidly gained popularity and garnered widespread recognition. Many prominent media outlets featured the service, and influential figures in the scientific and business sectors hailed it as a "game-changer."
OpenAI's mission is centered on developing "ethically responsible" artificial intelligence that outperforms human capabilities in economically vital tasks.
OpenAI's mission is centered on developing "ethically responsible" artificial intelligence that outperforms human capabilities in economically vital tasks.
Early in the year, reports emerged in the media about a fresh round of funding for OpenAI. Microsoft injected more than $10 billion into the company, causing its valuation to double, reaching $29 billion and positioning OpenAI as one of the most highly valued private companies in the United States.
Microsoft plays a crucial role as an investor and collaborator with OpenAI. Back in 2019, Microsoft had already committed $1 billion in funding to leverage OpenAI's developments in their product ecosystem.
In return, OpenAI benefits from its partnership with Microsoft by gaining access to their data processing facilities. This access is of significant importance, given that a substantial portion of the company's expenditures is related to cloud computing resources.
In return, OpenAI benefits from its partnership with Microsoft by gaining access to their data processing facilities. This access is of significant importance, given that a substantial portion of the company's expenditures is related to cloud computing resources.
ChatGPT, the primary product of OpenAI, is the frontrunner among language models. Notably, even industry giants such as Meta, which unveiled BlenderBot 5 in August 2022, and Google with LaMDA, have not managed to outperform it thus far.
As we look ahead, competition in this arena is projected to grow, but OpenAI's prominent standing and robust backing from Microsoft will enable the company to retain its leading position.
As we look ahead, competition in this arena is projected to grow, but OpenAI's prominent standing and robust backing from Microsoft will enable the company to retain its leading position.
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The investment examples set forth in this document have been included to provide you with thematic detail pertaining to the types of investable opportunities that Angel Talks & Partners aspires to make available for investment. Investments in portfolio companies offered through Angel Talks & Partners may ultimately generate positive returns, and other investments made in portfolio companies offered through Angel Talks & Partners may generate negative returns. It should not be assumed that investments in portfolio companies offered through Angel Talks & Partners will match the performance or character of the investment examples discussed throughout this document.
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