TNB Tech Minute: OpenAI Considers Pre-IPO Funding Round at Over $1.2 Trillion Valuation

0:00This episode is supported by Anthropic, the team behind Claude. Every business wants to move faster. Few can afford to be wrong. That's why the brands you trust also trust Claude. Here's your morning TNB Tech Minute for Wednesday, September 16th. I'm Julie Chang for The Wall Street Journal. OpenAI has held early talks with investors about a new funding round that could value the company at more than$1.2 trillion following its latest model release. That's according to people familiar with the matter. The ChatGPT creator was valued at$852 billion in March after raising$122 billion from Amazon, NVIDIA, SoftBank and others.

0:44If completed, the new round would precede the company's highly anticipated initial public offering, now expected next year. OpenAI's revenue rose$6.7 billion in the three months ended in June, up from$5.7 billion in the first quarter. Its operating margin fell, delaying the prospect of profitability ahead of an IPO. In an interview this month, OpenAI CEO Sam Altman said the company wasn't likely to go public this year, citing concerns about AI safety. News Corp, owner of Dow Jones Newswires and The Wall Street Journal, has a content licensing partnership with OpenAI. Nova Nordisk and Anthropic are partnering to deploy the Claude AI model to accelerate the development of new medicines.

1:30The Bogovie Maker and AI Labs said their collaboration aims to address key challenges in the drug discovery process by developing targeted solutions and workflows. Nova Nordisk will test Claude Science to help address scientific problems and plans to use Anthropic's models for software development. The company said the collaboration has been designed with robust data governance and human oversight. Novo Nordisk also has AI collaborations with OpenAI and Amazon Web Services. And Mistral said Mozilla would leverage its AI models to power Firefox's AI Assistant. It's betting that a partnership with a browser provider known for its privacy and data protections will win over more users and expand its consumer base.

2:17Under the partnership, Mozilla's AI Browsing Assistant, which helps users process complex searches, source information based on their tabs, and remember important details, will soon be powered by Mistral in the US, Canada, and France, with the UK and Germany expected to follow later this year. And that's your TNB Tech Minute. Join us again this afternoon for more. See what's next at claude.ai.