OpenAI completes $7 billion share sale and acquires NextSlide

OpenAI has completed a $7 billion secondary share sale, allowing current and former employees to liquidate holdings at a company valuation of $852 billion. Unlike previous funding rounds involving external investors, OpenAI reportedly used its own funds to buy back the shares. This tender offer is seen as a move to provide liquidity to staff ahead of a potential initial public offering.

In a separate strategic move, OpenAI has acquired NextSlide, a startup specializing in AI-driven presentation creation. The acquisition, which was finalized earlier this year but recently disclosed, brings NextSlide’s team and technology into the ChatGPT development process. Founder Ahmed Beshry and his team are now working on ChatGPT products.

Additionally, OpenAI is expanding its enterprise offerings with the launch of ChatGPT Business Premium seats. These seats provide five times more usage than standard seats and remove existing hourly limits, priced at $125 per user per month for monthly billing. On the personal side, the company is rolling out GPT-Live, a more natural, fluid voice mode for ChatGPT that allows for simultaneous listening and speaking.

Separately, Sam Altman’s personal wealth has reached a milestone through his long-term investment in Reddit. His stake in the social media platform is valued at approximately $1 billion, despite him holding no direct equity in OpenAI.