OpenAI Valuation to Hit $80 Billion; China's Zhipu AI Raises $342 Million in Funding

Thrive Capital set to lead buyout of employee shares in OpenAI as AI giant's valuation soars; Chinese AI start-up Zhipu AI nets significant backing from industry stalwarts Alibaba and Tencent.

• OpenAI, known for AI tools ChatGPT and DALL-E, is set to see its valuation spike to at least $80 billion, marking a 175% increase since its $300 million fundraise in spring.
• Venture capital firm, Thrive Capital will spearhead the deal to purchase OpenAI shares, making OpenAI one of the world's most valuable private companies.
• In about six months, OpenAI's value has surged 2.75 times, valuing it at around 60 times its annualized revenue.
• Zhipu AI, OpenAI's Chinese competitor, has amassed $342 million in funding this year, with significant backing from giants including Alibaba and Tencent.
• Zhipu AI, which launched its own generative AI chatbot in August, carries hopes of leading China's AI boom, akin to the roles of OpenAI and Anthropic.

3 Articles

Crunchbase News The Information The Information