OpenAI to open SG office amidst growing demand for AI tools in APAC region
It has been reported that ChatGPT's parent company, OpenAI, is set to open an office in Singapore later this year. This announcement came during the Tech Week Singapore event, where OpenAI also shared its plans to build a team in the country. According to CNA, Singapore will serve as a hub for OpenAI to support customers and partners throughout the Asia-Pacific (APAC) region.
Strengthening relationships and expanding presence
The team in Singapore will play a crucial role in bolstering relationships with local and regional governments, businesses, and institutions, stated OpenAI. The company believes that Singapore's prominence in technology and artificial intelligence, coupled with the increasing demand for advanced AI tools in the APAC region, aligns well with their strategic plans.
Collaboration with the Singapore government
OpenAI's CEO, Sam Altman, expressed excitement about partnering with the Singapore government and the local AI ecosystem as they establish their presence in the region. This move will enable OpenAI to collaborate more closely with government entities such as the Economic Development Board (EDB).
Key appointments and fundraising updates
Oliver Jay has been appointed as OpenAI's managing director for international markets, overseeing the company's strategy and operations globally. This appointment comes at a strategic time for OpenAI, especially as they near the completion of a significant venture capital fundraising round.
The current funding round, valued at US$6.5 billion, places OpenAI's total valuation at US$150 billion, marking a substantial increase from previous valuations. Major investors in this round include Thrive Capital, Khosla Ventures, and Microsoft, indicating strong investor confidence in OpenAI's growth and potential.
As OpenAI continues to expand its global footprint and engage with key stakeholders in the APAC region, the establishment of a Singapore office signifies a significant milestone in the company's journey towards advancing AI capabilities and solutions on a global scale.
