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OpenAI co-founder’s AI start-up raises $1 billion with just 10 employees and no product

Australian Financial Review

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Date Published
5 Sept 2024
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0
Australian
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Created
8 Mar 2025, 02:41 pm

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A huge investment in a company planning to build safe “superintelligence” has muted talk of the artificial intelligence bubble bursting.

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TechnologyAIPrint articlePaul SmithTechnology editorSep 5, 2024 – 3.08pmSaveLog inorSubscribeto save articleShareCopy linkCopiedEmailLinkedInTwitterFacebookCopy linkCopiedShare via...Gift this articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber?LoginFor all the talk of the artificial intelligence investment bubble deflating, a billion-dollar investment in a new company started by one of the co-founders of ChatGPT maker OpenAI suggests there is plenty of air left in it yet.Ilya Sutskever’s company Safe Superintelligence (SSI)raised $US1 billion ($1.5 billion) from a gaggle of venture capital firms just three months after he started it.Loading...Paul Smithedits the technology coverage and has been a leading writer on the sector for 20 years. He covers big tech, business use of tech, the fast-growing Australian tech industry and start-ups, telecommunications and national innovation policy.Connect withPaulonTwitter.EmailPaulatpsmith@afr.comSaveLog inorSubscribeto save articleShareCopy linkCopiedEmailLinkedInTwitterFacebookCopy linkCopiedShare via...Gift this articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber?LoginLicense articleFollow the topics, people and companies that matter to you.Find out moreRead MoreAITech ObservedFetching latest articlesOlympic weightlifting is hard. This boss uses the 1pc rule to get it doneLucy DeanOut-of-control watch price rises give housing a run for its moneyKnow your craft: How the biggest airlines rate at the pointy end‘We’ll fight’: Alex Waislitz on family battles and bad betsPatrick DurkinJob appointments have never been purely merit-based: CEW chiefWhy this CEO saves creative work for after her periodNew Zealand pops its cork for one of the world’s great wine festivalsMax AllenWhy Hawaii’s data-driven wellness retreat is a haven for high-flyersA last-chance tote bag and a groovy case for trumpetersVictor Smorgon’s star fundie eyes 50pc returns for new fundAlex GluyasForrest family powerbroker had alleged role in big Fortescue decisionsEllison-run garnet mine faces punishment over unsanctioned development