OpenAI engages in share sale talks at $86 billion valuation

Two weeks earlier, FTX’s $500 million investment in Anthropic in 2022 was said to be a game-changer for creditors. Now its rival, OpenAI, responsible for ChatGPT, received a valuation of $86 billion.

A valuation higher than Stripe

The team at the artificial intelligence startup responsible for ChatGPT is in the midst of negotiations regarding a transaction, commonly referred to as a tender offer, with potential investors, according to individuals familiar with the matter. The company has not yet finalized the allotments, and it’s possible that the terms may still change, as indicated by some of these sources.

OpenAI, which has a 49 percent ownership stake held by Microsoft Corp., is under the leadership of CEO Sam Altman and President Greg Brockman. 

You might also like: SBF trial day 11: financial forensic report exposes FTX $9.3b money trail

If valued at $86 billion, OpenAI would surpass the valuation of prominent companies like Stripe and Shein, making it one of the world’s most valuable private companies.

A significant valuation

As previously disclosed in June, FTX had temporarily suspended the sale of Anthropic shares amid ongoing bankruptcy proceedings. 

While the exact valuation at which FTX acquired its Anthropic stake remains undisclosed, there is anticipation that forthcoming funding rounds for Anthropic will substantially increase the company’s valuation, consequently elevating the worth of FTX’s stake and increasing the chances of a full recovery.

At the same time, Sam Bankman-Fried, the co-founder of FTX, is entering day 12 of his trial. 

Read more: FTX founder Sam Bankman-Fried’s trial day 11: Recap

Follow Us on Google News

Comments

Post a Comment

Popular posts from this blog

1inch DEX aggregator deploys on Ethereum’s layer-2, Base

1inch Network is integrating its decentralized exchange (DEX) aggregation protocol on Ethereum’s layer-2 solution, Base. The decentralized finance (defi) protocol said the goal is to tap liquidity from leading DEXs, including Uniswap, Balancer, SushiSwap, and Base Swap. In this way, they can refine and offer better swap rates. A highlight of this integration is the inclusion of a limit order feature for Base users to exercise more control over their trades. This allows them to set a specific price at which they wish to execute their transactions. Trades are then automatically processed once the market price aligns with the user’s predetermined value. 1/ A new adventure begins Our mascot, guided by #DeFi and #Web3 vibes, has again discovered a circular blue portal. Join us as # 1inch embarks on the next chapter of its thrilling journey, reshaping the industry's future! And remember to welcome @BuildOnBase! pic.twitter.com/6IPVx5Py3S — 1inch Network (@1inch) August 24, 2023
Read more

Crypto AI Economy Suffers $730 Million Loss in 2 Months as Interest Wanes

Image
Less than two months ago, a collection of 74 listed cryptocurrencies centered around artificial intelligence (AI) amassed an impressive $4 billion valuation. However, the intervening weeks have seen a sharp decline in crypto-AI economy gains, with losses of $730 million. The three most prominent AI-driven crypto projects have all suffered double-digit losses, ranging from 10% to 29.58%, against the U.S. dollar over the last 30 days. Interest in the Combination of Crypto and Artificial Intelligence Has Declined, Crypto-AI Token Economy Sheds $730M Various data points suggest that interest in and value of crypto-AI projects has waned. Global search trends for “crypto ai” peaked in early February 2023, with a Google Trends’ score of 100. Despite the rise, over the past 90 days, the score has slumped to a low of 22. Slovenia, the Netherlands, Cyprus, Lebanon, and Nigeria make up the top five countries interested in “crypto ai” searches at present. Global search trends according to Googl
Read more

Paysenger Offers The Best Of Web2 And Web3 On Its Social Platform

Paysenger has emerged as a popular choice for content creators and influencers due to its exciting platform that lets them collaborate with brands and interact with fans. The platform’s rapid growth has put its native token, EGO, on track to become one of the most attractive investment opportunities in the crypto space. The consistent development of the content creators’ market has led to a significant amount of investment flowing into this space, opening up a gap for an exclusive platform that specifically caters to the needs of influencers and social media personalities. Paysenger has managed to fill that gap with its collaboration platform that offers tools for content monetization and audience engagement. Paysenger has leveraged the power of Web3 to allow content creators to engage with their audience while simultaneously monetizing their popularity. The platform lets creators generate captivating content, sell posts on the NFT marketplace, engage in paid chats with the
Read more