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🚀 OpenAI's Ascent to $100 Billion Valuation: OpenAI is in early talks for a funding round, aiming for a valuation above $100 billion, per Bloomberg News. Discussions also include a chip venture with G42, with funding estimates between $8 billion and $10 billion. Concurrently, a separate tender offer led by Thrive Capital is set to conclude in early January, allowing employees to sell shares at an $86 billion valuation.

Key Points:

1. Funding Talks: OpenAI is in the early stages of discussions to raise a new round of funding, aiming for a valuation at or above $100 billion, as reported by Bloomberg News.

2. Unfinalized Terms: The terms, valuation, and timing of the funding round are still in flux and subject to change, according to sources familiar with the matter.

3. Chip Venture with G42: OpenAI has explored funding opportunities for a new chip venture with G42, a company based in Abu Dhabi. The report suggests discussions include raising between $8 billion and $10 billion.

4. Separate Tender Offer: OpenAI is expected to conclude a separate tender offer led by Thrive Capital in early January, enabling employees to sell shares at a valuation of $86 billion.

5. Microsoft's Commitment: Microsoft has pledged to invest over $10 billion in OpenAI. This commitment follows OpenAI's groundbreaking introduction of ChatGPT, a generative artificial intelligence chatbot that has significantly contributed to the company's rise.

6. ChatGPT's Impact: ChatGPT, the human-like response-generating chatbot, has played a pivotal role in boosting OpenAI's popularity. It led to a remarkable increase in the company's valuation, with a previous $300 million share sale at a $30 billion valuation.

7. Microsoft's Role on the Board: In late November, OpenAI CEO Sam Altman announced that Microsoft would assume a non-voting, observer position on the company's board. This move followed Altman's temporary removal on November 17, which raised concerns among investors and employees. Altman was reinstated four days later, accompanied by the promise of a new board.

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Thank you for reading today's coverage of AI news. Until tomorrow,

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