OpenAI, the artificial intelligence (AI) firm based in San Francisco, has recently completed a deal that has valued the company at $80 billion or more, as reported by The New York Times. This valuation marks a significant increase from just under a year ago when the company was valued at about $29 billion in a previous tender offer deal.
The deal, led by venture capital firm Thrive Capital, allows OpenAI employees to cash out their shares in the company. OpenAI has been a key player in the AI industry, particularly since the release of its ChatGPT chatbot in November 2022, which garnered significant attention and interest.
Under the leadership of Sam Altman, OpenAI has seen its revenues rise to over $1.6 billion in 2023, reflecting the growing demand for AI technology. The company has also received substantial support from tech giant Microsoft, including a $10 billion investment last January.
OpenAI recently unveiled its latest AI tool, "Sora," which allows users to generate videos based on text prompts. The tool has the ability to create realistic videos up to a minute long, maintaining visual quality and adhering to the user's instructions.
The company has made efforts to involve external parties in testing and providing feedback on their AI capabilities. Previews of the product show impressive footage of an art gallery tour and a woman walking along a rainy Tokyo street.
Overall, OpenAI's recent deal and valuation reflect the company's increasing prominence in the AI industry and its commitment to advancing AI technology for various applications. The company's growth and innovation continue to shape the landscape of artificial intelligence.