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OpenAI reportedly completed a $7 billion employee tender offer
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TechCrunch
The deal, reported by Bloomberg, valued OpenAI at $852 billion, the same as its most recent fundraising round in March, which added $122 billion to the company’s war chest.
The company also filed confidentially with the Securities and Exchange Commission in June to prepare for a potential IPO later this year.
However, a tender offer suggests that an IPO may not be forthcoming soon.
OpenAI did not respond to a request for comment by publication time.
The tender could be another signal that the much-anticipated offering will wait for OpenAI’s new strategy of paring down its bets and focusing on its enterprise business to gain traction.