OpenAI, Creator of ChatGPT, Completes $300 Million Stock Sale to Venture Capital Firms, Valued at $27-29 Billion

According to the latest news from Reuters, OpenAI, the creator of ChatGPT, has completed a stock sale of over $300 million, with a valuation between $27 billion and $29 billion.

TechCrunch's latest report indicates that venture capital firms, including Tiger Global, Sequoia Capital, Andreessen Horowitz, Thrive, and K2 Global, have purchased new shares.

In January of this year, insiders revealed that venture capital firms Thrive Capital and Founders Fund were in talks to invest, and the sale could bring OpenAI at least $300 million in revenue. The transaction is said to have been conducted through a tender offer, allowing investors to purchase shares from existing OpenAI employees and shareholders.

The Wall Street Journal reported at the time that this new deal would increase OpenAI's valuation by about twice the amount it was valued at during its 2021 financing round, which was about $14 billion.

OpenAI, a non-profit organization founded in 2015 and led by tech investor Sam Altman, aims to conduct AI research that benefits humanity. The company's initial supporters included Tesla CEO Elon Musk, LinkedIn co-founder Reid Hoffman, and Altman.

It's important to stay informed about significant developments in the technology industry, such as OpenAI's recent stock sale and increased valuation. These developments may impact the future direction of the industry, and may also present opportunities for collaboration or investment.