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  • bitcoinBitcoin (BTC) $ 42,977.00 0.18%
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    bnbBNB (BNB) $ 302.66 0.19%
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OpenAI in Talks to Raise New Funding at $100B Valuation

OpenAI has also held discussions to raise funding for a new chip venture with Abu Dhabi-based G42, according to the report...
Firefly A Robot Handles A Suitecase Full Of Money To Another Robot 2110

OpenAI

is in early talks to raise a fresh round of funding at a valuation at or above $100bn, Bloomberg News reported on Friday, citing people with knowledge of the matter.

The terms, valuation, and timing of the funding round have not yet been finalized and could still change, the report said.

OpenAI funding talks

OpenAI has also held discussions to raise funding for a new chip venture with Abu Dhabi-based G42, according to the report.

It is unclear if the chip venture and wider company funding were related, the report said, adding that OpenAI has discussed raising between $8bn and $10bn from G42.

OpenAI is set to complete a separate tender offer led by Thrive Capital in early January, which would allow employees to sell shares at a valuation of $86bn, according to the report.

Microsoft has committed to invest over $10bn in OpenAI, which kicked off the generative artificial intelligence craze in November 2022 by releasing ChatGPT.

Microsoft said it had nothing to share when contacted by Reuters. OpenAI did not respond to a Reuters request for comment.

ChatGPT, a chatbot that can generate human-like responses based on user prompts, has helped AI’s popularity and fueled a meteoric rise in the valuation of San Francisco-based OpenAI. The company has previously made a $300m share sale at a valuation of $30bn.

In late November, OpenAI CEO Sam Altman said Microsoft would take a non-voting, observer position on the company’s board.

OpenAI had ousted Altman on November 17 without any detailed cause, setting off alarm bells among investors and employees. He was reinstated four days later with the promise of a new board.

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