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23 Dec, 2023
1 min time to read

OpenAI is in early-stage talks to secure a new round of funding, aiming for a valuation surpassing $100 billion, as reported by Bloomberg News.

While details regarding the funding round, including terms and timing, remain unsettled and subject to change, OpenAI has also been in talks with G42, based in Abu Dhabi, about raising funds for a new chip venture. The specifics of the funding round and its connection to the chip initiative remain uncertain, with discussions hinting at a financial injection between $8 billion and $10 billion from G42.

OpenAI is also finalizing a separate tender offer led by Thrive Capital, expected to conclude in early January with a valuation set at $86 billion.

Microsoft's substantial investment, surpassing $10 billion, and the success of ChatGPT, a conversational AI model released in November 2022, have significantly contributed to OpenAI's impressive valuation climb, previously marked by a $300 million share sale at a $30 billion valuation.

Despite its financial successes, OpenAI faced internal turbulence in November when CEO Sam Altman was abruptly ousted from his position, causing concern among investors and employees. Altman was soon reinstated, promising to revamp the board structure.