OpenAI is aggressively pursuing growth in the competitive generative AI market, facing rivals like Anthropic, xAI, Google, Meta, Microsoft, and Amazon. The market is expected to reach over $1 trillion in revenue within a decade. In October, OpenAI introduced a search feature in ChatGPT to better compete with search giants like Google and Microsoft's Bing. The company recently closed a funding round at a $157 billion valuation and secured a $4 billion revolving line of credit, boosting its liquidity to over $10 billion. OpenAI is also exploring ways to integrate WhatsApp messages with ChatGPT credentials, enhancing user experience without requiring an account.
Key takeaways:
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- OpenAI has introduced a new way for users to interact with ChatGPT via a phone number and WhatsApp, offering 15 minutes free per month initially.
- The company announced the official launch of Sora, an AI video-generation tool, as part of a 12-day release event.
- OpenAI is focusing on aggressive growth, hiring its first chief marketing officer and debuting a search feature within ChatGPT to compete with major tech companies.
- The company recently closed a funding round at a $157 billion valuation and secured a $4 billion revolving line of credit.