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CEO North America > News > OpenAI raises $175m startup investment fund

OpenAI raises $175m startup investment fund

in News
Cisco warns AI software could make phishing attacks harder to fend off

Stuttgart, Germany - 12-29-2022: Mobile phone with website of US artificial intelligence company OpenAI LLC on screen in front of business logo. Focus on top-left of phone display. Unmodified photo.

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Artificial intelligence startup OpenAI has closed an investment fund, according to a Securities and Exchange Commission filing.

The fund has a value of more than $175 million, the document shows.

OpenAI has been investing in startups working in artificial intelligence for a while.

The company launched the OpenAI Startup Fund and said it would seek to back companies “pushing the boundaries of how powerful AI can positively impact the world and profoundly change people’s lives.”

The company said at the time it would put $100 million into the fund.

The SEC filing shows that the fund, called OpenAI Startup Fund I, is larger than initially anticipated. A representative for OpenAI did not immediately respond to a request for comment.

Tech news site The Information earlier reported on the filing.

By Rachel Metz / Bloomberg

Tags: AIfinancingOpenAIStartups

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