OpenAI Completes $300M Share Sale to Prominent VC Firms, Valuation at $27-29B
In Brief
OpenAI recently conducted a share sale, with participation from several leading venture capital firms, such as Tiger Global, Sequoia Capital, Andreessen Horowitz, Thrive, K2 Global, and Founders Fund, at a valuation of $27-$29 billion.
External investors currently own over 30% of OpenAI.
The funding obtained from the share sale will enable OpenAI to continue its work in AI and ML.
OpenAI, the company behind the wildly successful ChatGPT chatbot, has recently completed a highly lucrative share sale, netting over $300 million from several prominent venture capital firms. As reported by TechCrunch, OpenAI’s valuation is estimated to be between $27 billion and $29 billion.
Several venture capital firms, including Tiger Global, Sequoia Capital, Andreessen Horowitz, Thrive, and K2 Global, participated in the recent share sale conducted by OpenAI. A source familiar with the matter mentioned to TechCrunch that Founders Fund also invested in the company. The investment is distinct from Microsoft’s $10 billion investment made earlier this year. In total, external investors currently own more than 30% of OpenAI.
The recent funding will provide OpenAI with the necessary resources to pursue its development and research in artificial intelligence and machine learning. OpenAI has been a leading contributor to AI research since its establishment in 2015 and has notably created the GPT language model employed in ChatGPT.
The GPT-3 and GPT-4 language models have gained significant notoriety for their capacity to produce text that closely mimics human language. They have been used in a range of applications, such as chatbots and automated content production.
ChatGPT had over 1 billion visitors in February alone. Notably, this figure does not even include those who accessed ChatGPT through third-party platforms. Recent reports indicate that the chatbot has surpassed 100 million monthly active users, achieving this milestone faster than even the popular video-sharing app TikTok. These impressive metrics illustrate the significant impact that ChatGPT has had on the field of artificial intelligence and demonstrate the widespread adoption of the technology by users across the globe.
Read more:
Disclaimer
In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.
About The Author
Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on [email protected].
More articles
Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on [email protected].
