Tag: Thrive Capital
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OpenAI Faces Uncertainty as CEO Firing & Executive Departures Threaten $86B Valuation
Planned sale of OpenAI employee shares at risk amid CEO firing and executive departures, potentially impacting startup's $86B valuation - The Information report.
Insights from Benchmark’s Conversation with Miles Grimshaw on the Artificial Intelligence Race
Miles Grimshaw, the newest addition to venture firm Benchmark, led a seed round in LangChain, a SaaS development firm focused on large language models. While Grimshaw recognizes the potential of generative AI, he advised against investments when model depreciation rates undermine ROI. Benchmark focuses on being the most impactful partner to founders and invests in one to two deals yearly.
Essential Information About OpenAI’s $300M Stock Offering
. OpenAI, a leading non-profit and renegade AI startup has reportedly confirmed a $300 million share sale, valuing it between $27 and $29 billion. Investors include Tiger Global Management, Andreessen Horowitz, and Sequoia Capital, plus Thrive Capital and K2 Global. OpenAI has revolutionized the tech sector with its AI breakthroughs such as its chatbot GPT-3 and robotics engineering, leading the industry to revenues of over $18 billion in 2021.