OpenAI is in talks to raise $30 billion at a $1.4 trillion valuation, leaving Tiger Global poised for a $5 billion paper profit, Bloomberg reported on 8 October.
Tiger Global invested $150 million in OpenAI in early 2021, when the company was valued at $15.7 billion, Bloomberg reported. OpenAI co-founder and chief executive Sam Altman had called Tiger Global Management founder Chase Coleman to pitch an investment that would make the firm one of OpenAI’s few institutional backers.
AI Affairs previously reported OpenAI’s $30 billion funding talks with BlackRock and UAE funds. Tiger Global’s investment preceded OpenAI’s public release of ChatGPT in 2022.
