OpenAI has announced its latest funding round, raising $6.6 billion in new capital and increasing the company’s valuation to $157 billion. DA Davidson Managing Director and Senior Software Analyst Gil Luria joins to discuss how the company “continues to achieve amazing things.”
According to a New York Times report, OpenAI aims to reach $11 billion in revenue next year, a goal that Luria says is “achievable” provided certain things go right for the company. However, he describes the reported revenue target of $100 billion by 2029 as “fantastic,” while acknowledging that “they are still at the forefront of artificial intelligence and some of the tools around it.”
According to Luria, the heavy investments in AI by major tech companies are driven by the fact that “no one wants to be second best” in achieving artificial general intelligence (AGI). He notes that these companies will gradually tackle AI challenges such as solving complex mathematical problems, with numerous enterprise and consumer applications built around this technology. While Luria acknowledges OpenAI’s leadership in content creation tools, code development tools, and image generation tools, he emphasizes that “the real race is still the race to AGI.”
“AGI is almost at a different level. It’s a level of intelligence that solves problems that haven’t been introduced before,” he tells Yahoo Finance.
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This post was written by Angel Smith