00:00Let's get to Bloomberg Shereen Gaffery who covers AI out of San Francisco who also helped break this news. Shereen,
00:07great to have you with us. So we're talking about serious numbers here. This is the latest, the company's latest
00:13funding round and the largest one to date. Tell us what exactly, you know, they're planning to do with this
00:19raise.
00:20So this is really about OpenAI continuing to invest large amounts in compute and talent in order to try to
00:29win the race to AGI, right? And with fierce competition from Anthropic, Google and others.
00:35And how big is kind of the number that OpenAI is going to have to solve? Again, kind of a
00:41breathtaking number, $122 billion we've reported potentially on an entry to public markets at some point later this year.
00:47But it does seem like there is an insatiable need to raise cash.
00:53That's right, because these training runs, as they call them, to build the next AI model are now happening with
00:59greater and greater frequency.
01:00We're seeing new releases shift from a six-month or one-year cycle to every few months now, there's a
01:06new model from one of the major companies.
01:08And those cost a lot to produce. Also, talk to us about the retail investor here.
01:14You know, I'm really interested to see this paragraph in your reporting that the startup also said it will be
01:19included in several ETFs managed by Cathie Wood's ARK Invest ETFs.
01:25You don't often see private companies go into ETFs. What's the thinking there?
01:33Yeah, so it's interesting because, you know, we have now an opportunity, right, for more individual investors to participate in
01:41actually having exposure to OpenAI.
01:44Now, I think the thinking behind this round, in particular, as our CFO, Sarah Fryer, said on a press call
01:50this morning, was that this round in general gives them some flexibility.
01:54So, of course, you know, all these companies, as we reported, are looking toward an IPO.
01:58But also, if they're able to raise this amount of large cash and get some exposure to retail investors in
02:04the meantime, that also gives them the option to wait if they want to for that IPO.
02:09All right. That's why we have to leave it. Thank you to Bloomberg's Shireen Gaffery, breaking down all the news
02:14from her scoop and story on AI, valued now at $852 billion after closing a $122 billion round.
02:21Thank you very much.
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