OpenAI doesn’t stop! Acquires another company

MetaversePlanet June 25, 2024Last Updated: June 25, 2024

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OpenAI has decided to integrate its features and data analytics tools into its product infrastructure by acquiring Rockset.

OpenAI has acquired Rockset, a company that develops real-time search and data analytics tools. In a statement on OpenAI’s official blog, it was mentioned that Rockset’s technology will be used to strengthen OpenAI’s product infrastructure. Rockset’s team will join OpenAI, and its existing customers will gradually transition from Rockset’s platform. So, what benefits will this acquisition bring?

OpenAI acquires Rockset to power enterprise AI

Rockset was founded in 2016 by former Facebook engineers Venkat Venkataramani and Tudor Bosman, along with database architect Dhruba Borthakur. The company has developed tools that automatically retrieve data from databases and cloud storage services, indexing that data for search and analysis applications. Rockset’s database platform has powered applications such as recommendation engines, logistics tracking dashboards, and chatbots, especially in the fintech and e-commerce spaces.

Using Rockset’s technology, OpenAI aims to provide its customers with the ability to “make better use of their own data” and “access real-time information.” This could mean that OpenAI’s models will be better tuned for specific business uses and make fewer mistakes by leveraging a company’s data.

OpenAI plans to make AI applications more powerful and useful by utilizing Rockset’s advanced data extraction infrastructure. This move is seen as part of OpenAI’s significant investments in enterprise sales and technology organizations.

In May, OpenAI signed an agreement with PwC to sell its tools to other businesses. The previous month, it launched a special model adjustment and consultancy program for businesses. These steps have begun to bear fruit, with expectations that OpenAI’s annual revenue will exceed $3.4 billion this year. It has been announced that the enterprise level of OpenAI’s ChatGPT platform has approximately 600,000 users and that 93 percent of Fortune 500 companies use this platform.

OpenAI’s acquisition of Rockset is the second publicly disclosed acquisition after a New York-based startup called Global Illumination. What do you think? You can share your opinions in the comments section below.