OpenAI Raises $175 Million for Startup Investment Fund

OpenAI raises $175 million for venture capital fund.

Artificial intelligence startup OpenAI has closed an investment fund, according to a Securities and Exchange Commission filing. Documents show the fund is worth more than $175 million.

OpenAI has been investing in startups working in the field of artificial intelligence for some time. The company launched the OpenAI Startup Fund and says it will seek to back companies that “push the powerful boundaries of AI to positively impact the world and profoundly change people’s lives.”

The company said at the time it would put $100 million into the fund. SEC filings show that the fund, called OpenAI Startup Fund I, is bigger than initially expected. Representatives for OpenAI did not immediately respond to a request for comment. The document was earlier reported by tech news site The Information.

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