Tiger Global invests in OpenAI’s latest funding round

• OpenAI announced that it has raised $6.6 billion in new funding at a post-money valuation of $157 billion.
• Tiger Global Management is part of that round, according to two sources familiar with the matter.
• Tiger acquired $125 million worth of OpenAI shares at the end of 2021.

Tiger Global Management is doubling down on OpenAI, investing in maker ChatGPT’s massive new funding round, according to a source familiar with the matter.

OpenAI announced Wednesday that it has raised $6.6 billion in new funding at a post-money valuation of $157 billion. Thrive Capital is leading the round, according to Bloomberg. Other investors in this round include Cathie Wood’s ARK Venture Fund, Microsoft, Nvidia, Fidelity and Altimeter.

The amount of Tiger’s investment could not be disclosed, but investors must invest a minimum of $250 million, The Information previously reported.

Tiger Global, founded by Chase Coleman, invested at a furious pace during the tech boom, making 335 investments in 2021, according to Crunchbase. As the market soured, the firm was much quieter, but purchased $125 million of OpenAI stock at the end of 2021.

The closing of OpenAI’s new funding round comes just a week after three of its leaders abruptly resigned. Last week, former CTO Mira Murati, former Chief Research Officer Bob McGrew and former VP Research for Post Training Barret Zoph announced that they are leaving the company.

Reuters reported Last week, OpenAI is currently working to transform its corporate structure to become a benefit corporation for profit it is no longer under the control of the company’s nonprofit arm.