OpenAI to Decide Which Backers to Let Into $6.5 Billion Funding
- Thrive to lead round; Sequoia not involved in new financing
- Oversubscribed deal for AI leader is nearing final stages
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OpenAI’s latest fundraising is nearing completion, with prospective investors set to find out Friday whether they’ll be part of the deal, according to people familiar with the matter.
The $6.5 billion funding round for the artificial intelligence startup is oversubscribed, meaning investors were hoping to put in more money than the company was ready to take on, said the people, who asked not to be identified discussing private information. One of the people said that the excess demand was in the billions of dollars, and some investors will find out Friday that they did not make the cut.