In an episode of the Bg2 Pod, Nvidia Corp. (NASDAQ:NVDA) CEO Jensen Huang lauded OpenAI as one of the most influential companies of today's era.
What Happened: The podcast, aired on Sunday, featured a conversation between Altimeter Capital's CEO Brad Gerstner, partner Clark Tang, and Huang.
During the discussion, Huang expressed his admiration for OpenAI, which despite several high-profile departures, raised $6.6 billion at a $157 billion valuation.
Gerstner highlighted Sam Altman-led OpenAI's impressive growth, noting that the company is expected to generate $5 billion in revenue this year, potentially doubling to $10 billion next year.
He compared OpenAI's current status to Alphabet Inc.'s Google at the time of its IPO, stating that OpenAI has twice the revenue and twice the number of weekly average users that the tech behemoth had at the time.
Huang praised OpenAI's "singular purpose of advancing this [AI] field," stating that the company's rapid progress and impact on various industries make it a highly consequential player in the tech world.
He said that AI is transforming business in tangible ways, affecting every industry, company, and university, and this "awakening of AI" was triggered by ChatGPT.
"I love their [OpenAI] velocity and their singular purpose of advancing this field and so really consequential company," he concluded.
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Why It Matters: Previously, it was reported that OpenAI is shifting from a nonprofit to a for-profit organization, a change strongly backed by many investors in the current funding round.
The transition is anticipated to be a complex undertaking for the company. If it is not finalized within two years, investors in this round will have the option to request a return on their investments.
OpenAI's funding round was led by Thrive Capital and included notable venture capital investors including Nvidia, Microsoft, Softbank, Khosla Ventures, Altimeter Capital, and Fidelity.
Meanwhile, Apple reportedly ended up pulling out of discussions at the last minute.
Earlier it was also reported that OpenAI plans to more than double the price of ChatGPT over the next five years.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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