Adrian JohnsonTLDR:
- OpenAI valued at $80 billion after deal.
- Employees can cash out their shares rather than traditional funding.
Microsoft-backed OpenAI has completed a deal valuing the company at $80 billion. The deal, led by venture firm Thrive Capital, allows employees to cash out their shares rather than raise money through a traditional funding round. OpenAI’s ChatGPT has generated buzz around AI, leading CEO Sam Altman to explore chip funding to drive new AI-related tools. The company had a previous deal valuing it at $29 billion and continues to attract interest from tech giants like Meta in the fight against AI election interference.
OpenAI valued at $80 billion after deal
Microsoft-backed OpenAI recently completed a deal that values the artificial intelligence company at $80 billion or more. The deal, led by venture firm Thrive Capital, allows employees to cash out their shares instead of going through a traditional funding round. OpenAI did a similar deal last year with venture capital firms, valuing 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 consider raising funds for a chip venture to enhance chip-building capacity for new AI tools. Additionally, OpenAI, along with Meta and other tech giants, have signed an effort to combat AI election interference.
