Report: OpenAI, Creator of ChatGPT, Now Valued at $80 Billion
(Reuters) – Microsoft-backed OpenAI has completed a deal that values the artificial intelligence company at $80 billion or more, the New York Times reported on Friday, citing people with knowledge of the deal.
According to the report, the company would sell the existing shares in a so-called tender offer led by private equity firm Thrive Capital.
Under the agreement, employees can redeem their shares in the company instead of a traditional financing round that would raise money for the company, the report added.
OpenAI did not immediately respond to Reuters’ request for comment.
It made a similar deal early last year. Private equity firms Thrive Capital, Sequoia Capital, Andreessen Horowitz and K2 Global agreed to buy shares of OpenAI in a tender offer, valuing the company at about $29 billion, according to the report.
The launch of OpenAI’s ChatGPT in late 2022 has created a buzz around AI, prompting companies to look for ways to harness the power of the technology.
OpenAI CEO Sam Altman has also reportedly been in talks to raise funding for the chip project as he seeks to boost the world’s chip-building capacity to power new AI-related tools.
