OPENAI FUNDRAISING SET TO VAULT STARTUP'S VALUATION TO $150 BILLION

Summary from the TLDR newsletter

OpenAI is in talks to raise $6.5 billion from investors at a valuation of $150 billion. It is also in talks to raise $5 billion in debt from banks in the form of a revolving credit facility. The discussions are still ongoing and the terms could change. The financing will support the need for computing power and other operating expenses. OpenAI is aiming to allow employees to sell some of their shares in a tender offer later this year.