OpenAI delays its IPO

OpenAI CEO Sam Altman said the company would delay its initial public offering until it can make more confident decisions about the safety of its artificial intelligence technologies, as it faces a new lawsuit related to the use of its tools in a third-party breach. In a related development, OpenAI is targeting a new funding round of at least $30 billion, at a valuation of around $1.4 trillion, according to sources familiar with the matter cited by Bloomberg. The company’s annualized revenue is approaching $70 billion, based on current revenue levels, supported by a more than doubling of its sales to enterprise customers since July, according to a source who spoke with Reuters. The source added that the company’s annualized revenue has risen by more than 70% since the beginning of the third quarter, and that OpenAI generated consumer revenue in the third quarter alone that exceeded its total for all of last year. As part of its expansion into the AI agent market, OpenAI unveiled its new intelligent agent, Dots, which operates independently and around the clock to execute user tasks across various applications, strengthening the company’s presence in this market and placing it in direct competition with Meta.