Wallstreetcn
2023.11.27 08:17
portai
I'm PortAI, I can summarize articles.

"Palace intrigue" has limited impact? OpenAI continues to sell shares, with a valuation expected to reach $86 billion.

After going through internal power struggles, OpenAI is now about to face the test of the capital market. According to media reports, despite the recent turmoil, OpenAI's stock sale plan will continue. Currently, major investors remain optimistic about OpenAI's high valuation, with an expected valuation of up to 86 billion US dollars.

After experiencing management "intrigues," OpenAI is about to face scrutiny from the capital market.

According to media reports, following last week's turmoil, OpenAI's stock sale plan will continue. Large investors are still optimistic about OpenAI's high valuation, with an expected valuation of up to $86 billion.

However, some analysts believe that OpenAI's valuation will be affected by the boardroom infighting last week. Anat Alon-Beck, Associate Professor of Corporate Law and Governance at Case Western Reserve University School of Law, said:

This (referring to the internal strife at OpenAI) has damaged their valuation. I don't think their valuation will rise if they don't take appropriate measures now.

OpenAI's internal strife has indeed exposed some issues, such as the complex governance arrangements of a for-profit company overseen by a non-profit board.

Venture capital groups such as Thrive Capital, Sequoia Capital, and Khosla Ventures are all pushing for Altman's reinstatement, as they are trying to protect their existing stakes in OpenAI.

Insiders say that Altman's return as CEO has relieved investors and may pave the way for a simpler corporate structure: the company will focus more clearly on driving returns rather than the board's goal of creating "beneficial AI for all of humanity."

Microsoft, which holds a significant amount of equity in OpenAI, also hopes for governance changes that give it a say in the company's operations.

Earlier this year, Microsoft pledged to invest $10 billion in OpenAI when its valuation was $29 billion. Investors still believe that this stock sale can triple OpenAI's valuation.