TLDR:
- OpenAI valued at $80 billion in latest deal led by venture firm Thrive Capital.
- Employees given opportunity to cash out their shares in the company.
Article Summary:
According to the New York Times, Microsoft-backed OpenAI has recently finalized a deal that values the artificial intelligence company at over $80 billion. This deal involves the sale of existing shares in a tender offer led by venture firm Thrive Capital. Employees of OpenAI have been given the opportunity to cash out their shares in the company, marking a departure from the traditional method of raising funds through a funding round. This deal follows a similar one from early last year, where venture capital firms purchased OpenAI shares in a tender offer, valuing the company at around $29 billion.
OpenAI’s introduction of ChatGPT in late 2022 has generated substantial interest in the field of artificial intelligence, prompting companies to explore different ways to harness the capabilities of this technology. In addition, reports indicate that OpenAI CEO Sam Altman is currently in talks to secure funding for a chip venture that aims to enhance global chip manufacturing capacity to support the development of new AI-related tools.
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