The ChatGPT maker OpenAI has announced the acquisition of US-based Rockset, an enterprise analytics startup founded by Indian techies. While neither company has disclosed the acquisition amount, reports indicate that OpenAI acquired the company in a stock deal, valuing it at several hundred million dollars. As per the report, Rockset was last valued at $86 billion in a tender offer by investors earlier this year.
Why this acquisition?
Rockset has announced that its team will join OpenAI. This acquisition is significant for OpenAI’s enterprise products as its technology will improve the retrieval infrastructure for ChatGPT. Rockset’s capabilities will enhance OpenAI’s ability to quickly access and analyse vast amounts of information. This can be a crucial advantage as the company will target businesses with tools for rapid data indexing and search.
“Rockset’s infrastructure empowers companies to transform their data into actionable intelligence. We’re excited to bring these benefits to our customers by integrating Rockset’s foundation into OpenAI products,” said Brad Lightcap, OpenAI COO.
What does Rockset do?
The enterprise analytics startup was founded by Venkat Venkataramani and Dhruba Borthakur, who worked as engineers at Facebook. Before Meta, Venkataramani worked at Oracle while Borthakur was with Yahoo.
The company builds real-time search and analytics databases. It has benefited from the use of AI in various applications from chatbots. The company has raised nearly $105 million from investors, including Sequoia, Greylock, and Hewlett Packard Enterprise’s venture capital firm.
Rockset enables users, developers, and enterprises to better leverage their own data and access real-time information as they use AI products and build more intelligent applications.
“We’re excited to be joining OpenAI to empower users, enterprises, and developers to fully leverage their data by bringing powerful retrieval to AI,” said Venkat Venkataramani, CEO of Rockset.
Next-gen of ChatGPT
Additionally, OpenAI’s CTO Mira Murati recently discussed the future of AI and its impact on the job market. Speaking at Dartmouth Engineering, she revealed that the next-gen of ChatGPT could be launched in late 2025 or early 2026. It is touted to feature PhD-level intelligence for specific tasks.
This advanced version of ChatGPT is said to highlight the potential of AI to disrupt various industries, emphasing the significance of OpenAI’s acquisition of the enterprise analytics startup. It will not only bolster the company’s technological capabilities but also improve its market position.
