While Microsoft’s investment comes with a strong strategic angle - the tech giant is working to integrate OpenAI’s tech across a number of areas of its business - the VCs are coming in as financial backers.įrom what we understand, the term sheets have been signed by investors and the money’s been transferred still to come is countersigning from OpenAI. OpenAI declined to comment on the tender offer, which is separate to the Microsoft investment that closed in January. We have reached out to the investors named here, as well as to OpenAI, for comment and will update this story as we learn more. We confirmed that was when discussions started, amid a viral surge of interest in OpenAI and its business. If all this is accurate, this is the closing of the tender offer the Wall Street Journal reported was in the works in January. The size of Microsoft’s investment is believed to be around $10 billion, a figure we confirmed with our source. This is separate to a big investment from Microsoft announced earlier this year, a person familiar with the development told TechCrunch, which closed in January. Altogether the VCs have put in just over $300 million at a valuation of $27 billion – $29 billion. A source tells us Founders Fund is also investing. VC firms including Sequoia Capital, Andreessen Horowitz, Thrive and K2 Global picking up new shares, according to documents seen by TechCrunch. OpenAI, the startup behind the widely used conversational AI model ChatGPT, has picked up new backers, TechCrunch has learned. The money from VCs reported here, part of a tender offer, is separate to that. Updated to note that the Microsoft investment closed in January.
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