Technology is compelling the disruptors of America to adopt new perspectives. September 19, 2024 | SAN FRANCISCO AND SEATTLE A rare phenomenon may soon emerge in Silicon Valley: not just a $1 billion unicorn or a $10 billion decacorn, but a hectocorn—a startup valued over $100 billion. OpenAI, the creator of ChatGPT, is reportedly negotiating to raise $6. 5 billion from investors to support its co-founder Sam Altman's ambitious expansion plans.

If successful, this deal could push OpenAI's valuation to around $150 billion, positioning it as only the second American startup, after Elon Musk's SpaceX, to surpass the $100 billion mark. Musk, who co-founded OpenAI in 2015, is now Altman’s rival. This article was published in the Business section of the print edition under the title “The Age of the Hectocorn. ” From the September 21, 2024 edition Explore additional stories from this section and more in the contents list. Further Business insights: PwC must rethink its global governance structure. The "big four" accounting firms have outpaced their decentralized models. How Electronic Arts outmaneuvered FIFA. The video game publisher successfully called the football leaders' bluff. What challenges does Boeing face? A prolonged strike could result in enduring repercussions. Is it important to be kind at work? Kindness is becoming increasingly popular. Why the enthusiasm for hybrid cars may be fleeting. Fully electric vehicles are set to outpace hybrids. Chinese overproduction is straining the global steel sector. Governments are intervening to safeguard local producers.