OpenAI Skyrockets to $80B Valuation with Microsoft Backing

Microsoft-Backed OpenAI Valued at $80 Billion in Recent Deal

According to the New York Times, OpenAI, a leading artificial intelligence (AI) company backed by Microsoft, has recently closed a deal that places its valuation at $80 billion or more. The deal involves the sale of existing shares through a tender offer led by venture firm Thrive Capital, allowing employees to cash out rather than relying on traditional funding methods.