Despite the challenges of hardware development, OpenAI is in a strong financial position, expecting to reach $1 billion in revenue this year and holding $11.3 billion in venture capital. The company recently raised an additional $300 million and is considering selling shares to increase its valuation from $29 billion to between $80 billion and $90 billion.
Key takeaways:
- OpenAI is reportedly in talks with former Apple product designer Jony Ive about a potential AI hardware project, with SoftBank CEO Masayoshi Son also involved in some capacity.
- The hardware project is in its very early stages, with discussions only just beginning about what the hardware could do or look like.
- OpenAI previously ran a robotics research division, which was disbanded in 2021 due to technical challenges and cost overruns.
- Despite the risks associated with hardware, OpenAI is in a strong financial position, with $11.3 billion in venture capital and an expected revenue of $1 billion this year.