Tuesday, 02 January 2024 12:17 GMT

Openai Pursues $30 Billion Round At $1.4 Trillion Arabian Post


(MENAFN- The Arabian Post) clearfix">OpenAI is seeking at least $30 billion in fresh capital at a valuation of about $1.4 trillion before the new investment, as the ChatGPT maker turns again to private markets after delaying plans for an initial public offering.

Discussions with prospective investors remain at an early stage and terms could change, people familiar with the fundraising have said. Investor demand is driving the potential transaction as OpenAI records rapid revenue growth, while the proposed financing would provide additional capital during a longer period as a privately held company.

The targeted valuation would represent a sharp increase from the level established only six months ago. OpenAI said on March 31 that it had closed its previous funding round with $122 billion in committed capital at a post-money valuation of $852 billion, after initially announcing $110 billion of investment in February.

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The Arabian Post

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