OpenAI’s valuation is said to have risen to $80 billion in the latest deal.
OpenAI has reportedly signed a deal that boosts the San Francisco artificial intelligence (AI) company's valuation to $80 billion or more.
According to a report in the New York Times, the company plans to sell its current shares in a tender offer led by Thrive Capital. This approach allows employees to sell their shares, which differs from regular funding rounds to raise capital for business operations.
In the year Similarly, in 2023, venture capital firms Thrive Capital, Sequoia Capital, Andreessen Horowitz and K2 Global have agreed to buy OpenAI shares in an auction, valuing the company at around $29 billion, according to the report.
OpenAI CEO Sam Altman is said to be in talks to raise funds for a chip venture and pitching partnership between the company and “various investors, chipmakers and energy suppliers.” The CEO said OpenAI is looking to boost the world's capacity to build chips to drive new AI-related devices. He agrees to be a “significant customer.”
In the year By December 2023, OpenAI was reportedly in talks with investors with a view to investing more than $100 billion.
In the year In November 2023, OpenAI's board ousted Altman, causing chaos and casting doubt on the company's future. The workers threatened to walk out together.
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OpenAI asked law firm WilmerHell to investigate the board's decisions and Altman's leadership. A report on the matter is expected in early 2024.
OpenAI's ChatGPT was released in 2015. Its launch in late 2022 has sparked a lot of buzz around AI, prompting companies to look for ways to harness the power of the technology. The AI firm unveiled its first text-to-video model on Thursday, February 15.
Although the company believes the model still has a ways to go, its new generative AI model, dubbed Sora, creates videos from a list of simple text questions, continues existing videos, and creates scenes based on still images.
OpenAI did not immediately respond to Cointelegraph's request for comment on the deal.
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