The 6.5 billion dollars round of financing Demand for the artificial intelligence startup is oversubscribed, meaning investors were expecting to put in more money than the company was willing to take on, said the people, who asked not to be identified discussing private information. One of the people said excess demand was in the billions of dollars and some investors will find out on Friday that they fell short of the target.
OpenAI declined to comment.
Several strategic investors, including OpenAI’s largest backer Microsoft Corp. and new investors Nvidia Corp. and Apple Inc. are likely to gain access, the person said.
The deal will value OpenAI at $150 billion, a total that does not include the new investment, people familiar with the matter told Bloomberg. The company was last valued at $86 billion in a previous funding deal.
At least one prominent existing OpenAI investor will not be participating: Sequoia Capital, the people said. Sequoia recently backed a rival artificial intelligence company, Safe Superintelligence Inc., which was founded by OpenAI co-founder Ilya Sutskever, who left the Sam Altman-led company earlier this year. Sequoia did not immediately respond to a request for comment.
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Existing investor Thrive Capital is leading the current round and writing a check for $1.25 billion, the people said. Thrive Capital declined to comment.
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