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.
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.
Read More: OpenAI Staff Demand Resignation of Board
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.