Tiger Global Set to Join OpenAI’s $150B Funding Round, Boosting AI Growth

Tiger Global Management is also set to participate in OpenAI which recently secured its multibillion-dollar funding. This could give the AI company the kind of value that could be pegged at 150 billion dollars.

Tiger Global Management, a venture capital provider announced its intention to participate in the funding process to be executed by OpenAI and is expected to be valued at multibillion dollars.

Due to its rapid rise to fame, OpenAI has become one of the biggest names in artificial intelligence. It has also sparked much interest in generative AI, and companies are racing to use it to make money.

The source said that Josh Kushner’s venture capital company, Thrive Capital, will put up $1 billion. Tiger’s talks were first reported on by The Information, which also said that Thrive will lead the funding round.

Tiger Global Management would be investing in OpenAI again in case of such approval. So that is what happened the Tiger invested $50 million in the company in 2019, when it was only worth $14. 5 billion.

Aside from Microsoft, Nvidia, Apple, and the Abu Dhabi AI investment firm G42, Tiger would join a group of well-known investors who are apparently in talks to join the funding round.

Bloomberg News reported Thursday that the AI startup run by Sam Altman is seeking another $5 billion in debt from banks through a revolving credit facility. The company is raising $6.5 billion from investors.

The company just recently released its “Strawberry” line of AI models, which are meant to take longer to process answers to questions so they can solve more complicated problems.