OpenAI in talks to commit up to $1.5 billion to private equity joint venture: FT

Artificial intelligence firm OpenAI is reportedly planning to invest up to $1.5 billion in a new joint venture, internally named 'DeployCo'. This venture, with private equity firms, is expected to be valued at $10 billion. Synopsis Artificial intelligence firm OpenAI is reportedly planning to invest up to $1.5 billion in a new joint venture, internally named 'DeployCo'. This venture, with private equity firms, is expected to be valued at $10 billion. Listen to this article in summarized format Artificial intelligence firm OpenAI is set to commit up to $1.5 billion to a ‌new ⁠joint ⁠venture with private equity firms, the Financial Times reported on Wednesday, citing people with knowledge ⁠of the ‌matter. Reuters could not immediately ⁠verify the report. OpenAI will commit an initial $500 million of its equity into the joint venture - internally named 'DeployCo'- which ‌will be valued at $10 billion as part ⁠of a funding round expected to close in early May, FT added. Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. Subscribe Now