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2024-09-10 09:23:24
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AIbase
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11.7k
Biotech Startup Receives Investment from OpenAI and Thrive Capital to Utilize Artificial Intelligence in Drug Development
Biotechnology company Chai Discovery has received nearly $30 million in investment from Thrive Capital and OpenAI within six months of its founding. The company focuses on the application of biotechnology in drug development, developing innovative technologies that can predict biochemical molecular structures and reprogram molecular interactions, aiming to transform biology into 'engineering.' Chai Discovery's goal is to accelerate and optimize the drug development process by enhancing drug molecule design through technologies such as artificial intelligence and machine learning.
2024-08-29 10:09:58
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AIbase
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11.4k
OpenAI's Valuation May Exceed $100 Billion as AI Giants Ramp Up Funding Battle
OpenAI, known for its innovative AI research and the influence of ChatGPT, is actively seeking a new round of funding with a target valuation of up to $100 billion, potentially making it one of the most valuable tech companies in the world. This funding round is expected to raise billions of dollars, with venture capital firm Thrive Capital and tech giant Microsoft showing strong interest, potentially investing $1 billion and over $13 billion, respectively. OpenAI's valuation has rapidly increased over the past few years, rising from $86 billion at the end of 2022.