OpenAI’s $175M Fund Paves the Way for an AI-Crypto Financial Revolution
OpenAI has announced the closure of a $175 million investment fund, which may spark a financial revolution in the AI-Crypto industry. This fund marks a noteworthy milestone in the progress of financial technology and has the power to significantly impact the development of both AI and cryptocurrency.
About Open AI
In 2015, a set of tech experts, including Elon Musk and Sam Altman, established OpenAI, a research institution that strives to advance and support AI that serves humanity. OpenAI concentrates on AI research and execution, with the primary objective of promoting and producing user-friendly AI technologies.
The organization operates as a non-profit and follows a capped-profit approach that prioritizes safety. OpenAI is committed to creating a secure and advantageous AGI, but it also intends to accomplish its objective by helping others attain this goal.
Open AI Investment Fund
OpenAI has reached a significant milestone with the establishment of a $175 million investment fund. This fund has the potential to accelerate the progress of both AI and cryptocurrency technologies. Its main objective is to provide financial support to startup companies that are focused on cutting-edge projects related to AI and crypto.
The OpenAI fund has the capacity to act as a bridge linking the AI and crypto communities, fostering a new environment for emerging startups that focus on cutting-edge technologies combining the most promising aspects of both fields.
Global Crypto Market
The global cryptocurrency sector is undergoing significant expansion and has witnessed remarkable growth in recent years. The total market capitalization of cryptocurrencies worldwide surpassed $800 billion in 2022, and is anticipated to grow at a CAGR of 12.5% from 2023 to 2030
As of May 2023, the global digital currency market is valued at $1.27 trillion, with Bitcoin dominating the market share at 45.73%. Meanwhile, stablecoins make up $131 billion, accounting for 11.28% of the total cryptocurrency market capitalization.