OpenAI’s value could surpass $100 billion, Nvidia’s sales surge.-davinci

OpenAI is in the midst of a new funding round that could value the company above $100 billion, while Nvidia continues to report quarterly earnings with rapidly rising sales.

OpenAI's value could surpass $100 billion, Nvidia's sales increase sharply - Photo 1.

Screenshot of OpenAI’s video announcing its tool to create short videos from text in February

According to the Wall Street Journal , on August 28 (US time), chip manufacturer Nvidia and OpenAI Company both had good news showing that the world’s leading artificial intelligence (AI) fever has not cooled down.

OpenAI faces the opportunity to increase its value beyond $100 billion

OpenAI is in the midst of a new funding round that could value the company at more than $100 billion, according to a person familiar with the matter, according to the Wall Street Journal .

The company is now valued at about $86 billion after a massive employee stock sale in late 2023.

  • Good news from Nvidia and OpenAI shows that AI is not yet cool - Photo 2.

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Leading the round is venture capital firm Thrive Capital, which invested $1 billion. Microsoft, OpenAI’s largest partner, is also expected to add more money to the company. It is unclear whether other existing investors will participate in the round.

The figures make this OpenAI’s largest external funding round since the company received a $10 billion investment from Microsoft in January 2023.

Since then, Silicon Valley has witnessed a “race” between leading technology companies to create the most advanced AI system on the market.

These positive investment figures show that OpenAI is still one of the leading companies in the AI ​​race. They also prove that the interest and expectations of large investors in AI are very high.

Nvidia sales grow fast but not strong enough

Good news from Nvidia and OpenAI shows that AI is not yet cool - Photo 3.

Nvidia components are the most important component in the AI ​​development process – Photo: MINT

On August 28, chip company Nvidia announced its financial report for the second quarter (May-July). The report noted that the company’s revenue in the period more than doubled compared to the same period last year, reaching $30 billion. Profits also more than doubled, reaching $16.6 billion.

The company also predicts that revenue in the third quarter (August – October) will reach 32.5 billion USD.

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However, Nvidia’s gross profit margin narrowed compared to the first quarter (February – April). CFO Colette Kress said this was due to some production problems with the new generation of Blackwell chips , which had to be refined. Therefore, the company’s production costs increased.

However, Ms. Kress emphasized that productivity will increase significantly in the new quarter and market demand for Nvidia’s chips remains high.

Despite the positive results, many investors said Nvidia’s growth forecast was too modest compared to their high expectations. This concern overshadowed the positive business results, causing the company’s stock value to fall 6% at the close of trading on August 28 (US time).

Nvidia is the largest supplier of chips specifically for AI training and development. Since the AI ​​boom, the company’s business has skyrocketed. Therefore, Nvidia’s favorable business results also show that big tech companies are pouring more money into this technology.

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