OpenAI is getting ready to raise funds at a valuation of more than $100 billion in a round led by Thrive Capital. 

Thrive Capital is expected to invest approximately $1 billion in OpenAI’s new fundraising round. OpenAI’s CFO, Sarah Friar, informed employees that the company was seeking additional capital, but specific details were not disclosed.

Since December, the company has been in talks to raise funds at a valuation at or above $100 billion.

The new financing round for OpenAI could position it as one of the most valuable venture-backed startups globally. This highlights the increasing demand for generative AI software, especially after OpenAI’s ChatGPT gained widespread attention. 

The success of OpenAI, supported by Microsoft, has spurred competition among major tech companies to integrate AI into their products and invest in emerging startups in the AI space.

In a memo, OpenAI’s CFO Sarah Friar informed employees that the upcoming financing round would address the increasing demand for computing power and cover other operational costs. Additionally, she mentioned plans for a tender event later this year, allowing employees to sell some of their shares. However, these discussions are still in the preliminary stages, and specific details have not yet been finalised.

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