OpenAI completes $300 million investment round with valuation between $27 and $29 billion: Report

OpenAI completes $300 million investment round with valuation between $27 and $29 billion: Report

When ChatGPT debuted last year, it generated a worldwide sensation since it can generate essays, songs, examinations, and even news pieces from quick suggestions.

According to TechCrunch on Friday, OpenAI, the company behind the ChatGPT chatbot, has completed a more than $300 million share sale at a valuation of between $27 billion and $29 billion.

Italy temporarily blocked ChatGPT last month on worries about data privacy but has already reversed the restriction, according to the owner of the AI chatbot.

“Our users in Italy may once again use ChatGPT. We are happy to have them back and will continue to secure their personal information, according to an OpenAI spokeswoman.

When ChatGPT was introduced last year, it generated a worldwide sensation since it can generate essays, songs, examinations, and even news pieces from quick suggestions.

However, critics have expressed concern about the manner in which ChatGPT and its rivals gather and use their data.

Italy was the first Western nation to initiate legal action against the well-known AI chatbot in March.

The nation’s data protection authorities had stated that US company OpenAI, which created ChatGPT, lacked a legal justification for the extensive collecting and storage of personal data for the purpose of training the algorithms that power the platform.