As reported by Cointelegraph, OpenAI has launched Converge 2, an application for its six-week program designed for AI startups. The program plans to invest $1 million in each of the 15 chosen participants.
This initiative targets professionals such as engineers, designers, researchers, and product developers leveraging AI for inventive endeavors. According to Cointelegraph, OpenAI established this startup fund with the vision that powerful AI systems will drive the emergence of pioneering startups in a new era of innovation.
Insiders shared insights into the initiative’s origins and its influence on AI. OpenAI’s startup fund initiative represents the organization’s commitment to advancing applied AI in crucial sectors, clarified Sam Altman, OpenAI’s CEO.
Additionally, the company noted that the program’s commencement and conclusion will occur in San Francisco, with OpenAI covering participants’ travel expenses, as highlighted by Cointelegraph.