New York: According to sources familiar with the matter, Microsoft-backed OpenAI has recently finalized a deal that values the artificial intelligence powerhouse at $80 billion or more, as reported by the New York Times.
In this transaction, OpenAI is selling existing shares in what’s termed a tender offer, spearheaded by venture firm Thrive Capital.
This arrangement allows employees to cash out their shares rather than pursuing a traditional funding round to raise capital for business operations, the report elucidates.
Despite requests for comment, OpenAI has not responded, according to a report from the global news agency Reuters.
This deal mirrors a similar agreement struck early last year, where venture capital heavyweights including Thrive Capital, Sequoia Capital, Andreessen Horowitz, and K2 Global acquired OpenAI shares in a tender offer, thereby valuing the company at approximately $29 billion.
The introduction of OpenAI’s ChatGPT in late 2022 ignited considerable interest in the realm of artificial intelligence, prompting enterprises to explore innovative applications of this transformative technology.
Furthermore, OpenAI CEO Sam Altman reportedly engages in discussions to secure funding for a chip venture. This endeavor aims to bolster the global chip manufacturing capacity, facilitating the development of cutting-edge AI tools.
