The firm reportedly plans to sell current shares in a tender offer allowing employees to sell their shares, differing from a standard funding round to raise capital for business operations.
OpenAI has reportedly signed a deal that has increased the valuation of the San Francisco artificial intelligence (AI) company to $80 billion or more, marking a nearly threefold increase in less than 10 months.
According to a report in The New York Times, the firm plans to sell current shares in a tender offer led by Thrive Capital. This approach allows employees to sell their shares, differing from standard funding rounds to raise capital for business operations.
In a comparable arrangement in 2023, venture capital firms Thrive Capital, Sequoia Capital, Andreessen Horowitz and K2 Global agreed to purchase OpenAI shares in a tender offer, establishing the company’s value at approximately $29 billion, according to the report.
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Source: https://cointelegraph.com/news/open-ai-valuation-reportedly-soars-to-80-billion-in-latest-deal