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OpenAI has set up a new venture called OpenAI Deployment Company, with more than $4bn in initial funding from a syndicate of 19 firms led by TPG and including Advent International, Bain Capital and Brookfield as co-lead founding partners, the company said on Monday. The new entity, which will be majority-owned and controlled by OpenAI, […]
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Law, Tech, News, Careers, sam-altman, OpenAI, william-savitt
The University of Michigan invested 20 million dollars in OpenAI before ChatGPT existed, before Microsoft committed billions, and before the company was worth more than some countries. Court documents from the Musk v. Altman trial revealed this week that the stake carries a target redemption value of two billion dollars. A university endowment made […]
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Lenders pushed back on valuing OpenAI shares as collateral. The downsize lands a fortnight after the $10bn ask first surfaced and is the clearest signal yet that even an $852bn primary round has not closed the gap between sticker and what banks will lend against. SoftBank Group has trimmed the size of a margin loan […]