Prospective investors are expected to learn on Friday whether they will be a part of OpenAI’s next fundraising round, which is almost finished, according to people familiar with the situation.
The artificial intelligence startup’s $6.5 billion investment round was oversubscribed, indicating that potential investors wanted to contribute more money than the business was prepared to accept, according to persons who spoke about confidential information but asked not to be named. Some investors will learn on Friday that they did not make the cut, according to one of the persons who stated that the surplus demand was in the billions of dollars.
OpenAI declined to comment.
According to the source, access is expected for a number of significant investors, including Microsoft Corp., which is OpenAI’s largest supporter, as well as recent additions Nvidia Corp. and Apple Inc.
The additional investment is not included in the $150 billion agreement that values OpenAI, according to sources familiar with the situation who spoke with Bloomberg. The company’s previous valuation, from a previous finance agreement, was $86 billion.
According to the persons, Sequoia Capital, at least one well-known current OpenAI investor, will not be taking part. Recently, Sequoia invested in Safe Superintelligence Inc., a competitor AI venture founded by Ilya Sutskever, a co-founder of OpenAI who left the Sam Altman-led company earlier this year.
A comment request was not immediately answered by Sequoia.
According to the persons, Thrive Capital, an existing investor, is leading the current round and has written a check for $1.25 billion. Thrive Capital declined to comment.
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