OpenAI is an American artificial intelligence company that invented ChatGPT and recently was successful in generating investments of up to $6.6 billion. The company is now valued at $157 billion, thanks to the biggest investors, Microsoft and Nvidia. OpenAI is now positioned as one of the most valued private companies in the world.
The company said in a blog that it has now, “access to over $10 billion in liquidity, which gives us the flexibility to invest in new initiatives and operate with full agility as we scale”.
They also stated that large corporations like JPMorgan Chase, Citi, Goldman Sachs, Morgan Stanley, Santander, Wells Fargo, SMBC, UBS, and HSBC are providing credit assistance.
“We are proud to have the strongest banks and investors in the world supporting us,” stated Sarah Friar, CFO of OpenAI.
Sarah informed employees on Wednesday that the company would be able to provide liquidity for them through a tender offer to purchase back their shares in the company following the funding. Despite this fact, no details or specific timing has been decided yet. During the second quarter of 2024, the tech company granted the right to some of its employees to cash out their shares at a valuation of $86 billion.
Since the launch of ChatGPT, the company has grown revenue from zero to $3.6 billion, far exceeding Sam Altman’s projections at the time. It has productively attracted 23 million users per week. The company’s valuation has also risen from $14 billion in 2021 to $157 billion at the current.
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