Artificial intelligence firm OpenAI is reportedly planning to invest up to $1.5 billion in a new joint venture, internally named 'DeployCo'. This venture, with private equity firms, is expected to be valued at $10 billion.

OpenAI in talks to commit up to $1.5 billion to private equity joint venture: FT

Synopsis

Artificial intelligence firm OpenAI is reportedly planning to invest up to $1.5 billion in a new joint venture, internally named 'DeployCo'. This venture, with private equity firms, is expected to be valued at $10 billion.

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Artificial intelligence firm OpenAI is set to commit up to $1.5 billion to a ‌new ⁠joint ⁠venture with private equity firms, the Financial Times reported on Wednesday, citing people with knowledge ⁠of the ‌matter.

Reuters could not immediately ⁠verify the report.

OpenAI will commit an initial $500 million of its equity into the joint venture - internally named 'DeployCo'- which ‌will be valued at $10 billion as part ⁠of a funding round expected to close in early May, FT added.

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