OpenAI has finalised a $110 billion funding round with funds from Amazon, Nvidia and SoftBank, the company announced on Friday. This underscores the intense global race to build artificial intelligence.
Amazon is investing $50 billion in the round starting with an initial $15 billion investment and followed by another $35 billion in the coming months when certain conditions are met. On the other hand, SoftBank Group and Nvidia have each committed $30 billion.
"OpenAI and Amazon share a belief that AI should show up in ways that are practical and genuinely useful for people. Combining OpenAI's intelligence with Amazon's infrastructure and global reach helps us put powerful AI into the hands of businesses and users at real scale," said Sam Altman, co-founder and CEO of OpenAI.
READ MORE: OpenAI's ChatGPT To Introduce 'Naughty Chats' Feature? Key Details Here
Through this partnership Amazon and OpenAI will co-create Stateful Runtime Environment, available on Amazon Bedrock for AWS customers to build generative AI applications and agents at production scale. AWS will be the exclusive third-party cloud distribution provider for OpenAI Frontier, which enables organizations to build, deploy, and manage teams of AI agents.
A Stateful Runtime Environment allows developers to keep context, remember prior work, work across software tools and data sources, and access compute. They're designed to handle ongoing projects and workflows.
Altman on X, said, "We continue to have a great relationship with Microsoft. Our stateless API will remain exclusive to Azure, and we will build out much more capacity with them."
Talking about Nvidia it said that the IT giant is one of the most important partners and their chips are the foundation of AI computing. He also added that OpenAI is excited to run their system in AWS.
Welcoming SoftBank again as a major investor, Altman said there is much to do across their ecosystem.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
