Khosla Ventures just backed OpenAI with $405M more, but not necessarily with its own capital

Date:

Share post:


Khosla Ventures has raised $405 million for OpenAI, according to a regulatory filing.

Based on the filing alone, Khosla’s stake in the ChatGPT maker appears to be at least 6% of the $6.6 billion round the company closed last week. But that doesn’t mean Khosla has put substantial or any capital into the round. The majority or possibly all of the $405 million was pooled from other investors through a special purpose vehicle, or an SPV.

SPVs are used when a firm doesn’t have enough capital to fill a round, or when it has enough exposure to a company and offers its allocation to others clamoring for a stake.

Khosla Ventures declined to comment, so we don’t know the terms of its participation in OpenAI’s last round, which valued the firm at $157 billion. Either way, OpenAI has been good to Khosla Ventures, which invested $50 million in the company in 2019, for what The Information has since reported was 5% ownership. OpenAI’s valuation at the time isn’t publicly known, but likely it was significantly lower than the $29 billion valuation OpenAI reportedly garnered in 2023, when Microsoft invested $10 billion.



Source link

Lisa Holden
Lisa Holden
Lisa Holden is a news writer for LinkDaddy News. She writes health, sport, tech, and more. Some of her favorite topics include the latest trends in fitness and wellness, the best ways to use technology to improve your life, and the latest developments in medical research.

Recent posts

Related articles

HPE investigating security breach after hacker claims theft of sensitive data

Hewlett-Packard Enterprise is investigating a data breach after a well-known hacker claimed to have stolen sensitive information...

MoneyHash, which provides single access to payment services in MENA, banks $5.2M

When merchants or companies launch online, they typically start by partnering with one or two payment processors....

Karmen secures $9.4 million for its revenue-based financing products

French startup Karmen has secured a small funding round so that it can improve its instant financing...

President Trump signs exec order to make Musk’s DOGE commission more official

The Department of Government Efficiency (DOGE), an advisory commission spearheaded by billionaire Elon Musk recommending deep cuts...

Trump signs exec order delaying TikTok enforcement action for 75 days

President Donald Trump has signed an executive order aimed at restoring TikTok service in the U.S. The order...

President Trump repeals Biden’s AI executive order

During his first day in office, President Donald Trump revoked a 2023 executive order signed by former...

UK to unveil ‘Humphrey’ assistant for civil servants with other AI plans to cut bureaucracy

A week after the U.K. government announced a sweeping plan to make big investments into AI, it’s...

OpenAI’s agent tool may be nearing release

OpenAI may be close to releasing an AI tool that can take control of your PC and...