OpenAI secures $6.6 billion in funding from major investors as it shifts to for-profit model

OpenAI has secured $6.6 billion in funding from major investors, including Nvidia, Microsoft, and SoftBank. This marks a significant shift as OpenAI transitions to a for-profit model, moving away from its original nonprofit structure established in 2015. The new investment round allows investors to receive convertible notes, which can turn into equity once OpenAI becomes a public benefit corporation. This change aims to enhance OpenAI's financial capabilities while maintaining its social mission. OpenAI's revenue is projected to reach $3.7 billion in 2024, with expectations of significant growth in the following years. However, it faces a projected loss of $5 billion this year, raising questions about its financial sustainability.