OpenAI tipped to become the world's first trillion-dollar privately-held startup by former Google China president [Fortune]
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Source: Fortune
Sam Altman's company, established merely eight years ago as a competitor to Google's DeepMind, likely remains loss-making, and savvy venture capitalists and private equity investors reportedly valued it last month at a little over $80 billion during its most recent round of fundraising. Yet the one trillion dollar mark is what former Google China president Kai-Fu Lee—himself an AI investor—is predicting. Speaking to Fortune's editor-in-chief Alyson Shontell, Sinovation Ventures chairman Kai-Fu Lee believes OpenAI will reach the rarefied altitudes reserved for only a half-dozen megacap stocks with proven business models. “I am very bullish on their future. They've really done an admirable and unbelievable job executing,” the entrepreneur told participants at the Fortune Innovation Forum in Hong Kong on Wednesday “OpenAI will likely be a trillion-dollar company in the not-too-distant future.” Given there are no current expectations that a company still controlled by a non-pro
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