OpenAI, a leading artificial intelligence firm supported by Microsoft, has finalized a transaction exceeding $80 billion, as reported by the New York Times. Thrive Capital spearheads this deal, aiming to bolster OpenAI’s AI capabilities potentially through the acquisition of a chip maker, according to CEO Sam Altman.
In this agreement, Thrive Capital orchestrates an $80 billion tender offer, providing an opportunity for existing OpenAI shareholders to sell their shares. This initiative allows employees to liquidate their shares, diverging from the traditional fundraising route for the company.
This isn’t the first instance of OpenAI engaging in such a transaction. Earlier in 2023, the company underwent a similar tender offer orchestrated by four venture capital firms: Thrive Capital, Sequoia Capital, Andreessen Horowitz, and K2 Global, valuing OpenAI at approximately $29 billion.
Moreover, OpenAI has garnered substantial investments from Microsoft, including a $10 billion investment in January 2023, along with previous funding rounds in 2019 and 2021.
