OpenAI Valuation Soars: ChatGPT is Back in Italy
OpenAI's ChatGPT is back in Italy after a month hiatus, and its parent company has recently completed a shares sales round that has taken its valuation to over $27 billion. ChatGPT was previously banned in Italy by the authorities Garante, who cited concerns about the AI tool's privacy standards and its failure to verify its users' age.
The news of resumed operations has been celebrated, even by critics like Deputy Prime Minister Matteo Salvini. However, the Garante authorities want OpenAI to conduct an information campaign to inform Italians that they can opt-out of having their data used to train chatbots.
OpenAI introduced a new feature on April 25, allowing users to turn off their chat history. By doing so, the AI startup stated that it would not use such conversations to train AI models. OpenAI is also reportedly working on an export option feature that will enable users to export their data into their emails and see what information ChatGPT stores and other relevant data as it pertains to them.
OpenAI is planning to have a business subscription for professionals and enterprises. This new subscription model would have stricter data management standards as end users' data won't be used in training models. However, the company did not provide a timeline for this product's availability.
OpenAI's ChatGPT reached 100 million within two months of its launch in November 2022. The AI chatbot has generated considerable interest from big technology firms like Microsoft, which has integrated it into several products. However, experts like Elon Musk have called for a pause in developing AI systems due to the "profound risk" to humanity.
OpenAI has completed a $300 million share sale, with participation from venture capital firms such as Tiger Global, Sequoia Capital, Andreessen Horowitz, Thrive, and K2 Global, pushing its valuation to $27 billion - $29 billion.
