OpenAI, which is financed by Microsoft, has signed a deal worth at least $80 billion.
OpenAI, which is funded by Microsoft (MSFT.O), has closed a deal worth $80 billion or more, according to people familiar with the matter.
According to the report, the corporation would sell existing shares in a “tender offer” led by venture firm Thrive Capital.
Employees will be allowed to cash out their firm shares under the agreement rather than participate in a regular funding round to raise funds for the company, according to the article.
It struck a similar pact early last year. According to the article, venture capital firms Thrive Capital, Sequoia Capital, Andreessen Horowitz, and K2 Global have agreed to buy OpenAI shares in a tender offer, valuing the company at over $29 billion.
The launch of OpenAI’s ChatGPT in late 2022 has sparked interest in AI, prompting businesses to investigate methods to harness the technology’s potential.
OpenAI CEO Sam Altman is also allegedly in negotiations to secure financing for a semiconductor company as he seeks to increase the world’s chip manufacturing capacity to create new AI-related technologies.
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