From Nasdaq Inc.:

OpenAI, backed by Microsoft, has completed a deal valuing the artificial intelligence company at $80 billion. The deal, led by venture firm Thrive Capital, will allow employees to cash out their shares. Last year, OpenAI was valued at $29 billion, and the launch of ChatGPT has sparked interest in AI technology.

CEO Sam Altman is reportedly in talks to raise funds for a chip venture to boost the world’s chip building capacity in support of new AI-related tools. The company has not responded to requests for comment, and its valuation has been increasing as interest in AI grows. The technology has prompted companies to explore new ways to utilize AI capabilities.



Read more: OpenAI valued at $80 billion after deal, NYT reports