OpenAI's Valuation Soars To $80 Bn In Latest Deal: Report
OpenAI has seen its valuation skyrocket to over USD 80 billion. This valuation surge comes on the heels of a strategic move involving the sale of existing shares, orchestrated through a tender offer led by venture firm Thrive Capital, according to a NYT report.
Unlike traditional funding rounds aimed at raising capital for business expansion, this maneuver allows OpenAI employees to liquidate their shares. Reports suggest that this latest valuation marks a significant leap from OpenAI's previous valuation of around USD 29 billion.
The latest surge in OpenAI’s valuation indicates to the growing recognition and anticipation surrounding the potential of AI technology, particularly fueled by the introduction of OpenAI's ChatGPT in late 2022. The emergence of ChatGPT and related technologies has sparked widespread interest and exploration among companies keen on harnessing AI capabilities for various applications.
OpenAI CEO Sam Altman has been reportedly engaged in discussions regarding a chip venture to bolster the global capacity for chip manufacturing. This initiative is reportedly geared towards supporting the development of advanced AI-related tools and technologies.
