OpenAI is nearing a significant funding round, potentially raising its valuation to over $100 billion. Thrive Capital is expected to lead this round with an investment of approximately $1 billion, according to sources familiar with the matter. OpenAI’s Chief Financial Officer, Sarah Friar, informed employees in a recent memo that the company is actively seeking new capital to support its operational needs, including computing power, although specific details were not disclosed.
Since late 2022, OpenAI has been in discussions to raise funds at this high valuation, reflecting the growing demand for generative AI technology, especially after the widespread success of its chatbot, ChatGPT. This financing round could position OpenAI among the most valuable venture-backed startups globally, highlighting its influence in the AI industry. The success of OpenAI, backed by Microsoft, has also intensified competition among major tech companies to integrate AI technologies into their products.
Additionally, Friar mentioned that OpenAI is considering a tender offer later this year, allowing employees to sell a portion of their shares. However, these plans are still in the early stages and are yet to be finalized.