TLDR:
- OpenAI valued at $80 billion in recent deal
- Employees able to cash out shares in tender offer
Microsoft-backed OpenAI has completed a deal that values the artificial intelligence company at $80 billion or more, according to a report by the New York Times. The deal, led by venture firm Thrive Capital, allows employees to cash out their shares in a tender offer rather than raise new funding for the business. This follows a similar deal last year that valued the company at around $29 billion.
The launch of OpenAI’s ChatGPT in late 2022 has sparked interest in AI technology, prompting CEO Sam Altman to explore new funding opportunities, including a chip venture to drive new AI-related tools.
Full Article:
Microsoft-backed OpenAI has completed a deal that values the artificial intelligence company at $80 billion or more, the New York Times reported. The deal, which involved a tender offer led by venture firm Thrive Capital, allows employees to cash out their shares in the company.
In a departure from traditional funding rounds, this deal gives employees the opportunity to sell their shares in the company rather than raising new funds. A similar deal was agreed upon early last year, with venture capital firms Thrive Capital, Sequoia Capital, Andreessen Horowitz, and K2 Global buying OpenAI shares in a tender offer, valuing the company at around $29 billion.
The launch of OpenAI’s ChatGPT in late 2022 has generated significant interest in AI technology. CEO Sam Altman has been in talks to raise funds for a chip venture, aiming to boost the world’s chip building capacity to drive new AI-related tools.
Overall, the recent deal with OpenAI highlights the growing demand and potential of AI technology in the business world, as companies continue to explore ways to leverage the power of artificial intelligence.
