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
Boeing production in 2024 expected to be less than half of rival Airbus
Apple asks investors to block proposal to scrap diversity programmes
Axos Financial: how the US bank became one of Trump’s biggest backers