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Former OpenAI co-founder raises $1 billion for safety-focused firm while the ChatGPT maker prioritizes shiny products and is on the cusp of bankruptcy
By Kevin Okemwa,
4 days ago
What you need to know
Former OpenAI co-founder and Chief Scientist Ilya Sutskever recently raised $1 billion through investors for his new AI firm — Safe Superintelligence Inc.
Safe Superintelligence Inc (SSI) is focused on building safe superintelligence as OpenAI reportedly prioritizes shiny products over safety processes.
OpenAI is reportedly on the verge of bankruptcy within the next 12 months, with projections of $5 billion in losses.
The ChatGPT maker might get an extended lifeline through another round of funding sponsored by Microsoft, Apple, and NVIDIA, which could push its market cap to over $100 billion.
As it happens, Sutskever's Safe Superintelligence firm is enjoying significant success from the bat. According to a report by Reuters , the scientist recently managed to raise $1 billion for the new startup to further its safety advances from multiple investors, including Andreessen Horowitz, Sequoia Capital, NFDG, and more.
OpenAI continues to languish in multiple issues
OpenAI and ChatGPT (Image credit: Daniel Rubino)
Recently, we reported that OpenAI was on the brink of bankruptcy within the next 12 months , with projections of $5 billion in losses. The firm reportedly spends $7 billion on training its AI models and $1.5 billion on staffing but generates approximately $3.5 billion in revenue.
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