OpenAI Successfully Raises Over $8 Billion with Strong Demand for Subscriptions

OpenAI has managed to secure a new round of $8.3 billion in a total $40 billion funding program, according to a person with knowledge of the deal. The funding comes at a time when the company's business is accelerating. OpenAI's annualized recurring revenue has climbed to $13 billion from $10 billion in June and is expected to top $20 billion by the end of the year, the person revealed. In addition, ChatGPT's number of paid enterprise users has grown rapidly to 5 million from 3 million a few months ago. The fundraising round has been completed ahead of schedule, with strong demand for subscriptions and oversubscription by as much as five times. (Sina Finance)