OpenAI, the 'mother' of ChatGPT is now worth $80 billion
Agreement with venture capital Thrive Capital to allow employees to sell their shares
1' min read
1' min read
OpenAI showcases a new price tag: the company that developed ChatGPT is worth USD 80 billion, following an agreement that allows employees to monetise the shares they hold.
The group founded by Sam Altiman has signed a deal with venture capital firm Thrive Capital that effectively triples its valuation from just nine months ago. Under the terms of the deal, according to the New York Times, instead of a standard investment round to raise money for the company, employees will be able to cash in their company shares.
At the beginning of 2023, OpenAI had agreed to a deal along the same lines: venture capitalists Thrive Capital, Sequoia Capital, Andreessen Horowitz and K2 Global had bought the group's shares in a takeover bid, valuing the company at around USD 29 billion.
The launch of OpenAI's ChatGPT at the end of 2022 has kick-started intense research into artificial intelligence, prompting companies to explore ways to harness the power of this technology.OpenAI CEO Sam Altman is also reportedly in talks to raise additional funds to increase chip-building capacity worldwide, so that new tools related to artificial intelligence can be utilised.
