OpenAI concludes $300 million funding round at $27 billion to $29 billion valuation, report reveals
- ByStartupStory | April 29, 2023
According to a report by TechCrunch, OpenAI, the creator of the ChatGPT chatbot, has successfully raised over $300 million in a share sale. The company’s valuation is estimated to be in the range of $27 billion to $29 billion.
Italy has lifted its ban on ChatGPT after a temporary block over data privacy concerns last month, according to the chatbot’s owner, OpenAI. An OpenAI spokesperson confirmed on Friday that ChatGPT is once again available for use in Italy. The company expressed its commitment to safeguarding users’ personal data and stated that it is pleased to welcome Italian users back to the chatbot.
The release of ChatGPT last year caused a stir worldwide due to its ability to generate essays, songs, exams, and news articles from short prompts. However, concerns have been raised by some regarding the data collection and processing methods employed by ChatGPT and its competitors. In March, Italy took the first action against the popular AI chatbot, becoming the first Western country to do so.
Italy’s data protection authority had previously stated that OpenAI, the US-based company behind ChatGPT, lacked a legal basis to justify the mass collection and storage of personal data for training the algorithms that power the platform. As a result, the authority had temporarily banned the use of ChatGPT in the country over data privacy concerns.
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