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Tech


OPENAI VALUE TRIPLES IN NINE MONTHS AS IT RELEASES TRANSFORMATIVE ‘SORA’ VIDEO
TOOL

IN LESS THAN A DECADE THE AI FIRM HAS RISEN TO BECOME THE WORLD’S THIRD MOST
VALUABLE PRIVATE COMPANY

Anthony Cuthbertson
1 day ago
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A screenshot of a video generated from a text prompt using OpenAI’s Sora AI tool

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OpenAI has tripled in value in just nine months after securing a new deal with
venture capital firm Thrive Capital, according to reports.

The ChatGPT creator, which was founded in 2015 as a non-profit, now ranks as the
world’s third most valuable private company behind Elon Musk’s SpaceX and TikTok
parent ByteDance.




The latest deal, first reported by The New York Times, values OpenAI at around
$80 billion – up from $27 billion last year.



Reports of the new valuation comes after OpenAI released a new artificial
intelligence tool called Sora that creates videos from a simple text prompt.



Sora has already prompted both praise and concern since it was unveiled last
week due to the highly realistic videos it is capable of creating.


View more

AI experts have warned that it could be used to spread disinformation, while
some fear it could lead to the mass automation of entire creative industries.



“You guys are going to end so many careers for people,” one user wrote on an
OpenAI community forum following Sora’s release.

“Photographers, artists, animators, filmmakers, and possibly even actors. Being
in these industries is hard already, and now with this people might not have
jobs anymore.”


RECOMMENDED

 * Why are people ‘blowing up’ driverless cars in San Francisco?

The product, which has not yet been released to the public, follows successful
roll outs of other leading generative AI, including text-based chatbot ChatGPT
and image-based tool Dall-E.



OpenAI has frequently addressed safety concerns about its products, noting with
the unveiling of Sora that it could potentially be misused.

“We’ll be engaging policymakers, educators and artists around the world to
understand their concerns and to identify positive use cases for this new
technology,” the company said.



“Despite extensive research and testing, we cannot predict all of the beneficial
ways people will use our technology, nor all the ways people will abuse it.
That’s why we believe that learning from real-world use is a critical component
of creating and releasing increasingly safe AI systems over time.”




MORE ABOUT

artificial intelligenceOpenAI


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1/1OPENAI VALUE TRIPLES IN NINE MONTHS


OPENAI VALUE TRIPLES IN NINE MONTHS

A screenshot of a video generated from a text prompt using OpenAI’s Sora AI tool

OpenAI








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