' OpenAI's Recent Share Sale For Employees Was 65% Larger Than Previously Reported, Raising $495M' - Business Insider
Portfolio Pulse from Happy Mohamed
OpenAI raised $495 million in a recent share sale, significantly more than the previously reported $300 million. The sale allowed employees to sell shares to a group of investors, including Andreessen Horowitz, Khosla Ventures, Sequoia Capital, and Founder's Fund. The offering valued OpenAI at $27 billion to $29 billion.
May 26, 2023 | 4:08 pm
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Microsoft's investment in OpenAI is separate from the recent $495 million share sale, which allowed employees to sell shares to investors.
Although Microsoft invested $10 billion in OpenAI in January, it is not directly involved in the recent share sale. The share sale is focused on employees selling shares to investors, and the impact on Microsoft's stock price is likely to be minimal in the short term.
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