Sources: OpenAI is in early talks to raise funding at a $100B+ valuation, and discussed raising between $8B and $10B from Abu Dhabi-based G42 for a chip venture
OpenAI is in early discussions to raise a fresh round of funding at a valuation at or above $100 billion …
BREAKING: OpenAI is planning a new funding round (primary) in the New Year at a valuation above $100 billion. It would immediately follow the tender that's due to close early Jan valuing startup at $86B. OpenAI also talking with G42 to invest in the AI chip Project Tigris....
This is a real test of the due diligence processes and investment judgment of investors. The supply of greater fools is smaller than it was before interest rates jumped and field reports suggest OpenAI's products have a far smaller addressable market than the promoters claim.
New rule for covering big Gen AI companies like OpenAI and Anthropic: They are always looking for more $$ at a higher valuation. Only worth writing a story if they've decided to stop raising.