Photo by Jonathan Kemper on Unsplash
OpenAI’s Valuation Reaches $157 Billion with New Deal
- Written by Andrea Miliani Former Tech News Expert
- Fact-Checked by Justyn Newman Former Lead Cybersecurity Editor
In a Rush? Here are the Quick Facts!
- OpenAI raised $6.6bn in its latest funding and is now valued at $157 billion
- The startup expects a revenue of $3.7 billion in sales this year
- Over 1,700 people are currently working for the company
OpenAI raised $6.6bn in its latest funding, raising the company’s value to $157 billion and turning it into one of America’s most valuable startups.
According to the New York Times, OpenAI has now nearly doubled its value from just 9 months ago, when it was valued at $80 billion. The initial discussion of the new deal was revealed a few weeks ago , and the expected value of the company was surpassed this week—it was previously predicted to reach around $100 billion.
People with knowledge of this new deal reported that a few of the companies involved in the investing process were Nvidia, SoftBank, investment firm MGX, and Microsoft—which recently added OpenAI to its list of competitors and has been one of the startup’s largest investors.
OpenAI expects a revenue of $3.7 billion in sales this year, but also to lose $5 billion in costs developing technologies like ChatGPT and other expenses. The company leaders and its investors remain interested and hopeful about its future, and restructuring into a for-profit company is also in discussion.
“Every week, over 250 million people turn to ChatGPT regardless of the scale of the challenge—whether it’s communicating with someone who speaks another language or solving the toughest research problems,” said Sarah Friar, OpenAI’s chief financial officer.
OpenaAI now has about 1,700 employees. The start-up added about 1,000 of these employees during the past 9 months. However, OpenAI’s Chief Technology Officer Mira Murati resigned last week along with researchers Bob McGrew and Barret Zoph, adding to the list of the main talents leaving the company, especially after substantial changes in the structure and purpose of the startup.
Photo courtesy of Oura
Oura Launches New Smart Ring, Starting at $349
- Written by Andrea Miliani Former Tech News Expert
- Fact-Checked by Justyn Newman Former Lead Cybersecurity Editor
In a Rush? Here are the Quick Facts!
- The new Oura Ring 4 is available for presale starting at $349
- The device is being offered in 12 sizes and six colors
- Compared to Oura Ring Gen3, the new smart ring is more comfortable and accurate with health measurements
The Finnish tech company Oura launched a new model of its smart rings series, the Oura Ring 4, available for pre-order starting at $349— and the shipping service will begin in a few days, on October 15th.
According to the press release , the new model is thinner and more comfortable than previous models, and it includes Smart Sensing, a sensing technology powered by an algorithm to measure, send accurate data to the app, and adapt better to the finger.
Oura performed a study to analyze performance, and with Smart Sensing, compared to the previous generation Oura Ring Gen3, the Oura Ring 4’s blood oxygen signal is 30% more accurate, and 15% more accurate also in breathing. The newest model also showed fewer gaps in measuring heart rate during the day and night.
“Oura Ring is designed to be a personal health companion, giving our members a holistic view of their health by pairing personal data with meaningful, actionable insights to facilitate long-term changes,” said Tom Hale, ŌURA CEO.
Oura Ring 4 will be available in 12 sizes—an expanded range compared to previous models—from size 4 to 15, and in six colors: Black, Rose Gold, Silver, Brushed Silver, Stealth, and Gold.
The tech company has also announced a new app for the ring that is compatible with Android and iOS. “The next-generation Oura Ring 4, reimagined Oura App, and the development of the Smart Sensing platform represent significant steps forward for wearables across accuracy, comfort, personalization, and design,” said Hale.
Just a few weeks ago, Samsung announced its new AI-powered Galaxy Ring , which started at $399, and became one of Oura’s competitors.
