OpenAI Wins Pentagon Work as Altman Tries to Square Circular Deals after Raising $110B

To make a mountain of moolah, you’ve got to raise a mountain of moolah to burn. That is how the saying goes, right? On Friday, OpenAI announced a record-breaking $110 billion haul, lifting its valuation to $730 billion, more than double what it was a year ago. Participation from Nvidia and Amazon made it the latest so-called circular deal, in which money-losing artificial intelligence startups are financed by their own customers. Later the same day, OpenAI announced a deal with the US Department of Defens ...