OpenAI has announced its latest funding round, raising $6.6 billion in new capital and pushing the company’s valuation to $157 billion. D.A. Davidson Managing Director and Senior Software Analyst Gil Luria joins to discuss how the company “continues to accomplish amazing things.”

According to a report from the New York Times, OpenAI wants to reach $11 billion in sales by next year, a goal Luria believes is “doable,” provided certain things go right for the company. However, he describes the reported $100 billion sales target by 2029 as “fantastical,” while acknowledging that “they’re still leading the way in artificial intelligence and some of the tools around it.”

According to Luria, heavy investments in AI by big tech companies are driven by the fact that “nobody wants to be second” in achieving artificial general intelligence (AGI). He notes that along the way, these companies will tackle AI challenges such as solving complex mathematical problems, with numerous enterprise and consumer applications built around this technology. While Luria recognizes OpenAI’s leadership in content creation tools, code development tools, and image generation tools, he emphasizes that “the real race is still that race to AGI.”

“AGI is almost on a different access. It’s a level of intelligence that will solve problems that weren’t previously introduced,” he tells Yahoo Finance.

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This post was written by Angel Smith