VC firms, including Tiger Global, Sequoia Capital, Andreessen Horowitz, Thrive, and K2 Global, have picked up OpenAI's shares worth $300M, per documents seen by TechCrunch. The San Francisco-based AI startup has concluded its tender offer, which was aimed at giving existing employees an opportunity to liquidate their holdings. The transaction valued the firm at between $27B to $29B.
- Reportedly, outside investors now collectively own more than 30% of OpenAI.
- Existing investor Founders Fund participated in the current tender offer.
- In January, Microsoft announced it would invest "billions of dollars" in OpenAI.
- The investment is estimated to be worth $10B, per sources close to the matter.
- The transaction demonstrates VCs' current enthusiasm for the generative AI sector.
- In Q1 2023, VC concluded 46 deals worth $1.7B, with an additional $10.68B worth of deals announced but not completed.