“OpenAI Closes $300m Share Sale at $27b–29b Valuation”, 2023-05-28 (; backlinks):
OpenAI, the startup behind the widely used conversational AI model ChatGPT, has picked up new backers, TechCrunch has learned.
VC firms including Sequoia Capital, Andreessen Horowitz, Thrive and K2 Global picking up new shares, according to documents seen by TechCrunch. A source tells us [Peter Thiel’s] Founders Fund is also investing. Altogether the VCs have put in just over $0.3b at a valuation of $27b–$29b.
[The VC funds in question put in ~$0.05b each, so when the valuation of OA had tripled by November 2023, their stake in the OA LLC would be worth >$0.15b.]
…Updated to note that the Microsoft investment closed in January. The money from VCs reported here, part of a tender offer, is separate to that.