OpenAI is reportedly in advanced talks to form a joint venture with private equity firms worth about $10 billion to expand the use of its artificial intelligence tools in businesses.
According to Bloomberg, the venture would involve major private equity firms, including TPG Inc. and Bain Capital. The proposed partnership would focus on deploying OpenAI’s software across companies owned by these investment firms.
The venture is expected to have a pre-money valuation of roughly $10 billion, while private equity investors may commit about $4 billion in funding, the report said, citing people familiar with the discussions.
OpenAI’s rapid growth
The discussions around the joint venture come as OpenAI continues to attract significant investment.
The company recently raised $110 billion in funding, giving it an estimated valuation of about $840 billion, according to Bloomberg.
OpenAI is also expected to secure another $10 billion from venture capital firms and sovereign wealth funds as the funding round continues.
If the joint venture moves forward, it could help accelerate the use of OpenAI’s technology across large enterprise networks while creating another revenue channel for the company.
