Sam Altman offers 17.5% returns, ChatGPT exclusives to raise more money for OpenAI
India Today
OpenAI is offering big incentives to private equity firms in a bid to raise more funds. The ChatGPT-maker is offering a minimum return rate of 17.5 per cent, as well as early access to its new AI models. As per reports, the Sam Altman-led firm is hoping to secure a stronger footing in the enterprise market following Anthropic's lead.
OpenAI seems to be going all-in to attract private equity firms. The Sam Altman-led AI startup is trailing behind Anthropic in the enterprise market and hopes to form joint ventures with equity firms to accelerate its enterprise AI adoption. As per reports, the company is offering a higher rate of returns as well as early access to its models to lure more investors.
As per Reuters, OpenAI is offering a guaranteed minimum return of 17.5 per cent to private equity firms. Usually, the rate of return does not exceed 10 per cent. This is believed to be part of the company’s strategy to accelerate its AI adoption.
The ChatGPT-maker is targeting major firms such as TPG, Bain Capital, Advent International with this proposal, which is reportedly more attractive than similar offers from rival Anthropic.
Do note that reports indicate that Anthropic does not offer any guaranteed returns in its private equity deals.
OpenAI recently went into code red mode as it struggles to catch up with Anthropic in the enterprise market. The Sam Altman-led firm has now switched focus on enterprise tools and is also working on a new super app.
As part of the deal, OpenAI will form joint ventures with these firms who will then deploy the company’s AI products across their portfolio companies, potentially opening a vast market opportunity.
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