Temasek in talks to invest in OpenAI
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The news: Singapore’s state investment firm, Temasek, is in discussions to invest in the Microsoft-backed OpenAI, according to sources cited by the Financial Times.
The numbers: Temasek maintains a USD287 billion ($441.92 billion) portfolio featuring some of the world's leading tech startups. OpenAI was last valued at USD86 billion in April, when the company completed a deal allowing employees to sell stakes in the company. The ChatGPT maker has received around USD13 billion in funding from Microsoft.
The context: Senior execs from Temasek have met with Sam Altman, CEO of OpenAI, several times over the last few months. While Temasek had originally been interested in investing in Hydrazine Capital, Altman’s VC fund, the more recent discussions included OpenAI itself.
If Temasek, which is seeking to expand its AI exposure, were to invest in OpenAI, it would be the first time a state-backed group funded the AI giant. The talks come just weeks after Altman expressed his plans to launch a semiconductor business that would allow OpenAI to cut down on its reliance on chips made by Nvidia.
The source: Financial Times
