OpenAI has secured more than $6.5 billion in new funding at a valuation of $157 billion as it looks to increase its lead in the artificial intelligence space.

What Happened: OpenAI on Wednesday announced that it raised $6.6 billion at a post-money valuation of $157 billion to accelerate progress on AI research, increase compute capacity and continue building tools to solve complex problems. OpenAI was valued around $86 billion earlier this year when employees opted to offload existing shares.

“Across industries, businesses are improving productivity and operations, and developers are leveraging our platform to create a new generation of applications. And we're only getting started,” ...

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