OpenAI Valued at $80 Billion After Deal: NYT Reports
The reported agreement entails the sale of existing shares by the San Francisco-headquartered firm to investors spearheaded by Thrive Capital.
The California-based OpenAI firm has reportedly finalized a deal with investors that could value the company at $80 billion or more. This deal was reported by The New York Times and is yet to be officially confirmed by OpenAI.[1]
The reported agreement entails the sale of existing shares by the San Francisco-headquartered firm to investors spearheaded by Thrive Capital. If confirmed, this deal would mark a substantial increase in OpenAI's value, nearly tripling its worth in less than a year.
This news comes on the heels of a recent major crisis for the company, during which co-founder and CEO Sam Altman was fired and then brought back only days later.
OpenAI has been at the forefront of AI innovation since the launch of its ChatGPT program in late 2022, captivating the world with its ability to generate text, sounds, and images on demand. Microsoft, a longstanding investor, has bolstered its commitment to OpenAI, contributing approximately $13 billion to OpenAI in the past few years. This heightened involvement reflects the intense competition between tech giants like Microsoft and Google in leveraging AI's generative capabilities, prompting scrutiny from regulatory bodies such as the US Federal Trade Commission.
OpenAI was founded as a non-profit in 2015.
