Microsoft backed OpenAI closes $175 mn fund to empower other AI startups

Sam Altman-run OpenAI has closed a $175 million investment fund focused on empowering other AI startups, with backing from Microsoft and other investors.

The Information reported first about the fund-raise, citing a US Securities and Exchange Commission (SEC) filing.

The company had earlier said it would put $100 million into the startup fund.

However, the SEC filings show that the fund, called OpenAI Startup Fund I, is bigger than initially expected and is 75 per cent higher than the original plan, the report mentioned.