OpenAI Completes Deal That Values the Company at $80 Billion

• OpenAI has completed a deal that values the company at $80 billion or more, nearly tripling its valuation in less than 10 months.
• The deal involved selling existing shares in a tender offer led by venture firm Thrive Capital.
• This allows employees to cash out their shares of the company rather than raising money for the business.
• The venture-capital firms Thrive Capital, Sequoia Capital, Andreessen Horowitz, and K2 Global agreed to buy OpenAI shares in the tender offer.
• The deal follows a similar one OpenAI agreed to early last year.

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