OpenAI In Talks To Commit Up To $1.5 Billion To Private Equity Joint Venture
Artificial intelligence major OpenAI is set to commit up to $1.5 billion to a new joint venture with private equity firms, the Financial Times reported on Wednesday, citing people with knowledge of the matter.
- Republic Business
- 1 min read
Follow :
Â
Â
Artificial intelligence (AI) major OpenAI is set to commit up to $1.5 billion to a new joint venture with private equity firms, the Financial Times reported on Wednesday, citing people with knowledge of the matter.
OpenAI will commit an initial $500 million of its equity into the joint venture - internally named 'DeployCo'- which will be valued at $10 billion as part of a funding round expected to close in early May, FT noted.
(This is a developing copy)