OpenAI closes $300M share sale with heavy VC investment at a valuation of $27B to 29B

OpenAI sells 300M shares at a valuation of $27B to 29B

TechCrunch has seen documents that show Tiger Global, Sequoia Capital and Andreessen Horowitz as well as Thrive, K2 Global and Thrive Capital have all purchased new shares. Sources tell us that Founders Fund also invests. The VCs collectively invested just over $300m at a valuation between $27 billion and $29 billion.

The Microsoft investment was closed in January. The money reported here is part of a bid offer and not the money from VCs.

TechCrunch reports that OpenAI, the company behind the popular conversational AI model ChatGPT has received new investors.

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OpenAI closes $300M share sale at $27B-29B valuation