Artificial intelligence company OpenAI's valuation exceeds $80 billion
The market value of OpenAI, the creator of the chatbot ChatGPT, has exceeded $80 billion following recent deals.
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The value of OpenAI, which opened a new dimension in artificial intelligence technologies by launching the chatbot ChatGPT, has exceeded $80 billion with the latest deal. Thus, the company has nearly tripled in size in less than 10 months.
The firm plans to sell existing shares through a tender offer led by the investment firm Thrive Capital. This tender offer approach allows employees to sell their shares, unlike standard funding rounds used to raise capital for business operations.
According to the report, in 2023, venture capital firms Thrive Capital, Sequoia Capital, Andreessen Horowitz, and K2 Global agreed to purchase OpenAI shares through a similar tender offer, bringing the company's valuation to $29 billion.
It was also reported that OpenAI CEO Sam Altman is in talks to raise funds for a chip venture and to establish partnerships between the firm and various investors and chip manufacturers. CEO Altman stated that major chip-producing factories would become OpenAI's customers.
The launch of OpenAI's ChatGPT in late 2022 created a buzz around artificial intelligence and encouraged companies to explore ways to harness the power of the technology.