Unraveling the Mystery of OpenAI's Converge 2 Program: What You Need to Know

In December, OpenAI announced the opening of applications for its second cohort of the six-week accelerator program that began in 2022. Since then, updates have been scarce. However, according to two sources familiar with the initiative, OpenAI’s Converge 2 startup accelerator program did indeed take place.

Converge 2, as the latest accelerator program is known, stands out from typical tech PR announcements. In most cases, accelerator programs publicize the startups they accept or graduate, since showcasing these investments helps boost the startups’ visibility and success chances.

Yet, for months, tech forums buzzed with speculation about whether the Converge 2 program actually happened. Participants in these forums—some of whom claimed they applied—reported hearing nothing. No one announced their acceptance or even received rejection notices; this silence extended to other industry insiders as well, despite OpenAI's prominent status.

This lack of communication was surprising, especially compared to the first program. OpenAI conducted Converge 1 in early 2023, calling for applications and subsequently announcing its first four investments from the OpenAI Startup Fund. In December 2023, the OpenAI Startup Fund stated that it would begin accepting applications for the second cohort, Converge 2, expected to start in March 2024 and end by April.

However, once again, there was an eerie silence. OpenAI did not release any information about the companies that received investments, and after numerous requests for comments over several months, the organization declined to confirm whether the second program even occurred. This situation led founders to express their concerns online and reach out to us for information.

Despite our efforts, those close to the program have not explained why OpenAI remains tight-lipped about the cohort graduates. Are there stringent NDAs in place? Is it simply a culture of silence? Even during Converge 1, communications were minimal, and details about participating companies, such as Cursor.AI, emerged gradually.

The growing scrutiny on OpenAI from early 2023 to now has intensified, especially as reports surfaced that the company aims to raise another funding round projected to value it at $100 billion, according to the Wall Street Journal. Additionally, in the interim between Converge 1 and Converge 2, Sam Altman was replaced as the fund's owner by Ian Hathaway, another venture capitalist.

This change has not hindered the fund's activity. Since January, the OpenAI Fund has made investments in several new companies, as reported by PitchBook, including AI chatbot Heeyo, wellness startup Thrive AI Health, AI firm New Computer, and Ambience Healthcare, which developed an AI assistant for healthcare providers. At least two of these companies, according to a source, participated in the Converge program; however, the source refrained from naming them to avoid potential backlash from OpenAI.

As for the inner workings of the program, information remains elusive. One insider suggested that the primary advantage is access to OpenAI’s researchers and unreleased model technologies. This limited information aligns with theories about the stringent NDAs that OpenAI is known to impose, as highlighted in a recent Vox report.

This article has been updated for clarity regarding the fund's investments in new companies.