OpenAI, an artificial intelligence (AI) firm, has completed a deal that values the company at $80 billion or more. The deal involves a tender offer led by venture capital firm Thrive Capital, allowing OpenAI employees to sell their shares in the company. This marks the second tender offer deal for OpenAI, with its valuation roughly tripling since last year. OpenAI gained significant attention with the release of its ChatGPT chatbot in November 2022. The company’s revenues skyrocketed to over $1.6 billion in 2023 due to the growing interest in AI technology. OpenAI has also received substantial support from Microsoft, including a $10 billion investment. Recently, OpenAI unveiled its latest AI tool called “Sora,” which enables users to create videos based on text. The tool can generate realistic videos up to a minute long, maintaining visual quality and adhering to user prompts. OpenAI is sharing its research progress to gather feedback and provide insight into the future of AI capabilities.
