Latest news with #Dragoneer
Al Arabiya
6 hours ago
- Business
- Al Arabiya
OpenAI staff looking to sell $6 billion in stock: Report
Current and former employees of OpenAI are looking to sell nearly $6 billion worth of the ChatGPT maker's shares to investors including SoftBank Group and Thrive Capital, a source familiar with the matter told Reuters on Friday. The potential deal would value the company at $500 billion, up from $300 billion currently, underscoring both OpenAI's rapid gains in users and revenue, as well as the intense competition among artificial intelligence firms for talent. SoftBank, Thrive and Dragoneer Investment Group did not immediately respond to requests for comment. All three investment firms are existing OpenAI investors. Bloomberg News, which had earlier reported the development, said discussions are in early stages and the size of the sale could change. The secondary share sale investment adds to SoftBank's role in leading OpenAI's $40 billion primary funding round. Bolstered by its flagship product ChatGPT, OpenAI doubled its revenue in the first seven months of the year, reaching an annualized run rate of $12 billion, and is on track to reach $20 billion by the end of the year, Reuters reported earlier in August. Microsoft-backed OpenAI has about 700 million weekly active users for its ChatGPT products, a surge from about 400 million in February.
Reuters
21 hours ago
- Business
- Reuters
OpenAI staff looking to sell $6 billion in stock to SoftBank, others, source says
Aug 15 (Reuters) - Current and former employees of OpenAI are looking to sell nearly $6 billion worth of the ChatGPT maker's shares to investors including SoftBank Group (9984.T), opens new tab and Thrive Capital, a source familiar with the matter told Reuters on Friday. The potential deal would value the company at $500 billion, up from $300 billion currently, underscoring both OpenAI's rapid gains in users and revenue, as well as the intense competition among artificial intelligence firms for talent. SoftBank, Thrive and Dragoneer Investment Group did not immediately respond to requests for comment. All three investment firms are existing OpenAI investors. Bloomberg News, which had earlier reported the development, said discussions are in early stages and the size of the sale could change. The secondary share sale investment adds to SoftBank's role in leading OpenAI's $40 billion primary funding round. Bolstered by its flagship product ChatGPT, OpenAI doubled its revenue in the first seven months of the year, reaching an annualized run rate of $12 billion, and is on track to reach $20 billion by the end of the year, Reuters reported earlier in August. Microsoft-backed (MSFT.O), opens new tab OpenAI has about 700 million weekly active users for its ChatGPT products, a surge from about 400 million in February.
CNA
a day ago
- Business
- CNA
OpenAI staff looking to sell $6 billion in stock to SoftBank, others, source says
Current and former employees of OpenAI are looking to sell nearly $6 billion worth of the ChatGPT maker's shares to investors including SoftBank Group and Thrive Capital, a source familiar with the matter told Reuters on Friday. The potential deal would value the company at $500 billion, up from $300 billion currently, underscoring both OpenAI's rapid gains in users and revenue, as well as the intense competition among artificial intelligence firms for talent. SoftBank, Thrive and Dragoneer Investment Group did not immediately respond to requests for comment. All three investment firms are existing OpenAI investors. Bloomberg News, which had earlier reported the development, said discussions are in early stages and the size of the sale could change. The secondary share sale investment adds to SoftBank's role in leading OpenAI's $40 billion primary funding round. Bolstered by its flagship product ChatGPT, OpenAI doubled its revenue in the first seven months of the year, reaching an annualized run rate of $12 billion, and is on track to reach $20 billion by the end of the year, Reuters reported earlier in August.
Bloomberg
a day ago
- Business
- Bloomberg
OpenAI Staffers to Sell $6 Billion in Stock to SoftBank, Other Investors
Current and former OpenAI employees plan to sell approximately $6 billion worth of shares to an investor group that includes Thrive Capital, SoftBank Group Corp. and Dragoneer Investment Group, in a deal that values the ChatGPT maker at $500 billion, according to people familiar with the matter. The talks are early and the size of the share sale could still change, said the people, who asked not to be identified discussing private information. The secondary share investment is on top of SoftBank's commitment to lead OpenAI's $40 billion funding round, which values the company at $300 billion, according to another person familiar with the deal. That round remains ongoing, with OpenAI recently securing $8.3 billion from a syndicate of investors.
Yahoo
01-08-2025
- Business
- Yahoo
OpenAI raises $8.3 billion at $300 billion valuation, exceeding target
-- OpenAI has secured $8.3 billion in funding at a $300 billion valuation, exceeding its target and completing the fundraising months ahead of schedule, according to the New York Times (NYSE:NYT) DealBook Newsletter. The artificial intelligence company had initially planned to raise $7.5 billion by the end of 2025 as part of its larger $40 billion funding strategy announced in March. SoftBank (TYO:9984) had previously committed to provide $30 billion by year-end. Dragoneer Investment Group led the round with a $2.8 billion commitment, potentially one of the largest single venture capital investments ever made. The funding round attracted numerous new investors, including private equity firms Blackstone (NYSE:BX) and TPG, along with mutual fund manager T. Rowe Price. Other participants included Fidelity Management, Founders Fund, Sequoia Capital, Andreessen Horowitz, Coatue Management, Altimeter Capital, D1 Capital Partners, Tiger Global and Thrive Capital. The round was five times oversubscribed. The report also noted that the company's business metrics show significant growth, with annual recurring revenue reaching $13 billion, up from $10 billion in June, and projected to exceed $20 billion by the end of 2025. Paid business users of ChatGPT have increased to five million, up from three million a few months ago. Related articles OpenAI raises $8.3 billion at $300 billion valuation, exceeding target - NYT After soaring 149%, this stock is back in our AI's favor - & already +25% in July Surge of 50% since our AI selection, this chip giant still has great potential
