OpenAI, backed by Microsoft and major VC players, has spent over $540 million to develop ChatGPT and is looking for a commercial win. Despite making $30 million in revenue last year, CEO Sam Altman reportedly plans to increase this to $200 million this year and $1 billion next year. The fate of Global Illumination's recent creation, a Minecraft-like open source sandbox MMORPG called Biomes, remains unclear.
Key takeaways:
- OpenAI has acquired New York-based startup Global Illumination, which uses AI to build creative tools and digital experiences. This is OpenAI's first public acquisition.
- The entire team of Global Illumination has joined OpenAI and will work on core products including the AI-powered chatbot, ChatGPT.
- Global Illumination was involved in designing and building early products at Instagram, Facebook, YouTube, Google, Pixar, and Riot Games. Its most recent creation is Biomes, an open source sandbox MMORPG.
- OpenAI, which made $30 million in revenue last year, aims to increase its revenue to $200 million this year and $1 billion the next year, according to CEO Sam Altman.