OpenAI Reaches $80 Billion Valuation in Microsoft-Backed Deal

OpenAI, backed by Microsoft, has completed a deal valuing the company at $80 billion or more through a tender offer led by venture firm Thrive Capital, allowing employees to cash out their shares. This approach differs from a traditional funding round and follows a similar deal last year. The launch of OpenAI's ChatGPT has generated interest in AI, prompting exploration of its potential applications, while CEO Sam Altman is reportedly seeking funds for a chip venture to enhance AI-related tools.