The company has undergone a restructuring plan amid a series of executive changes, including the exit of CTO Mira Murati.

OpenAI is set to open a new office in Singapore by the end of 2024 to cater to the growing demand for AI tools in the Asia-Pacific region.

This local presence will enable OpenAI to work closely with government bodies such as the Economic Development Board (EDB).

CEO Sam Altman expressed excitement about the expansion, emphasizing Singapore's strong position in technology and problem-solving.

This shift towards a profit-driven approach has sparked concerns regarding AI risk management and ethical considerations within the industry.

In addition to ChatGPT, OpenAI is also working on image-generating software and a video generator.

OpenAI collaborates with major companies like Microsoft and Nvidia to provide essential resources for AI researchers.

Recently, OpenAI has introduced new products, experienced executive departures, and established a $4 billion credit facility with global banks.

Since its founding in 2015 as a nonprofit, OpenAI has transitioned to a for-profit model, raising a total of $17.9 billion in funding.

Organizations like the Mozilla Foundation have raised alarms about the increasing dominance of profit motives in the AI sector.

Despite generating revenue, OpenAI is facing projected losses exceeding $5 billion, intensifying the need to quickly release new chatbot versions.

The funds raised will be directed towards enhancing OpenAI's AI research capabilities, boosting computational power, and developing new tools.