Company to sell existing shares in ‘tender offer’ led by venture firm Thrive Capital, in similar deal as early last year
Microsoft-backed OpenAI has completed a deal that values the artificial intelligence company at $80bn or more, the New York Times reported on Friday, citing multiple people with knowledge of the deal.
The company would sell existing shares in a so-called tender offer led by venture firm Thrive Capital, the report said. Employees will be able to cash out their shares of the company rather than a traditional funding round, which would raise money for the business, the report added.
About Author
More Stories
‘Fruit of the devil’: Hainan’s betel nut sellers suffer from stuttering economy
Porsche reports steep fall in orders from Europe and China
Couple who ran Swedish eco-resort say 158 barrels of human waste left behind was ‘very normal’