“OpenAI Completes Deal That Values the Company at $80 Billion: The A.I. Start-Up’s Valuation Tripled in Less Than 10 Months”, Cade Metz, Tripp Mickle2024-02-16 (OA)⁠:

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 3 people with knowledge of the deal. [Wasn’t this supposed to close in early January 2024, not mid-February 2024?]

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.

…In an attempt to resolve last year’s turmoil, OpenAI hired the law firm WilmerHale to review the board’s actions and Mr. Altman’s leadership. WilmerHale is expected to finish its report on the episode early this year.

See Also:

• OpenAI’s $86 Billion Share Sale in Jeopardy Following Altman Firing

• OpenAI Seeks New Valuation of Up to $90 Billion in Sale of Existing Shares

• OpenAI closes $300m share sale at $27b–29b valuation

• Sam Altman Won the War for OpenAI. Now Comes Winning the Peace: The company’s CEO is back with near-unanimous employee support—and with thorny governance issues to address

• OpenAI not expected to offer Microsoft, other investors seats on new board: report

• OpenAI Gives Employees Extra Month to Opt Into Plan to Sell Shares