Artificial Intelligence (AI) firm OpenAI is now valued at $80 billion after a fresh deal, the New York Times (NYT) reported citing sources. The company will sell existing shares in the offer led by venture firm Thrive Capital. Under this deal, company employees will be able to cash out their shares. OpenAI also sparked a deal last year with venture capital firms Thrive Capital, Sequoia Capital, Andreessen Horowitz, and K2 Global. The deal led to a rise in the company's valuation to $29 billion. The Microsoft backed platform is well-known for its AI platform ChatGPT which took the industry by storm after its release in November 2022. CEO Sam Altman is in talks to raise funds for chip venture as he looks to boost chip making ability to power new generation AI tools. OpenAI is yet to offer any comment on the NYT report. Last November, the company officially confirmed that Sam Altman has returned to the company as CEO. “I have never been more excited about the future. I am extremely grateful for everyone’s hard work in an unclear and unprecedented situation, and I believe our resilience and spirit set us apart in the industry. I feel so, so good about our probability of success in achieving our mission.” Sam Altman wrote in a blog.
