OpenAI Completes Deal That Values the Company at $80 Billion
The A.I. Start-Up’s Valuation Tripled in Less Than 10 Months
OpenAI has completed a deal that values the San Francisco artificial intelligence company at $80 billion or more, nearly tripling its valuation in less than 10 months, according to three people with knowledge of the deal.
The company would sell existing shares in a so-called tender offer led by the venture firm Thrive Capital, the people said. The deal lets employees cash out their shares in the company, rather than a traditional funding round that would raise money for business operations.
OpenAI, which declined to comment, is now one of the world’s most valuable tech start-ups, behind ByteDance and SpaceX, according to figures from the data tracker CB Insights.
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