Technology

OpenAI Eyes New Funding at $100 Billion Valuation: Report

The company has previously made a $300 million share sale at a valuation of $30 billion.

By Inc.Arabia Staff
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OpenAI is currently in early discussions to bag a fresh round of funding at a valuation at or above $100 billion, Bloomberg reported, citing unnamed sources familiar with the matter.[1]

The funding round's conditions, valuation, and schedule have not yet been decided upon and are subject to change.

OpenAI has also discussed raising money for a new chip partnership with G42, based in Abu Dhabi, according to the report.

OpenAI has talked about raising between $8 billion and $10 billion from G42, but it is unclear if the chip venture and broader corporate finance were related.

OpenAI is scheduled to conclude a separate tender offer headed by Thrive Capital in early January, enabling staff members to sell shares at a valuation of $86 billion.

Microsoft has pledged to spend more than $10 billion on OpenAI, the company that released ChatGPT in November 2022 and ignited the demand for generative artificial intelligence.

ChatGPT, a chatbot that can produce human-like comments in response to user queries, has contributed to the growth in popularity of AI and driven up the valuation of San Francisco-based OpenAI.

The company has previously made a $300 million share sale at a valuation of $30 billion.

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