Report: OpenAI soars to $80 billion valuation after deal

According to a recent report, OpenAI, the AI company supported by Microsoft, has finalized a transaction that places its valuation at $80 billion or higher. The New York Times revealed from information from sources that OpenAI is set to sell shares in a tender offer managed by venture capital firm Thrive Capital.

In contrast to the conventional approach of conducting a funding round to raise capital by selling shares to investors, this deal allows OpenAI employees the option to monetize their shares directly.

In a parallel transaction in the preceding year, OpenAI engaged in a comparable deal, with venture capital firms Thrive Capital, Sequoia Capital, Andreessen Horowitz, and K2 Global acquiring shares through a tender offer. This previous arrangement valued OpenAI at approximately $29 billion, as highlighted in the Times report.

Since introducing the AI-powered chatbot ChatGPT, OpenAI has played a pivotal role in the rise of AI technologies.
According to reports, OpenAI CEO Sam Altman is in discussions to secure funding for a fresh venture centered around chip development, aiming to expand global capabilities in creating advanced chips essential for AI applications. The Wall Street Journal has disclosed Altman’s vision to revolutionize semiconductor manufacturing, envisioning an initiative with a potential cost ranging from $5 trillion to $7 trillion, as informed by insider sources.

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