Tiger Global plans to join OpenAI funding round, Information reports

(Reuters) -Venture capital firm Tiger Global Management plans to participate in the multi-billion-dollar funding round for OpenAI, which could value the ChatGPT developer at $150 billion, the Information reported on Friday, citing people familiar with the matter.

OpenAI's meteoric popularity has ignited widespread interest in generative AI, as businesses race to capitalize on the technology to enhance their products.

Tiger would join a roster of high-profile investors, including Thrive Capital, Microsoft, Nvidia, Apple and Abu Dhabi AI investment firm G42, as well as Khosla Ventures, which are also in talks to participate in the funding round, the report said.

Josh Kushner's Thrive Capital plans to commit $1 billion, according to the Information, and will reportedly lead the funding round.

Sam Altman-led AI startup is raising $6.5 billion from investors, Bloomberg News reported on Thursday, seeking another $5 billion in debt from banks through a revolving credit facility.

OpenAI and Tiger Global Management did not immediately respond to Reuters requests for comment.

The company recently announced the launch of its "Strawberry" series of AI models designed to spend more time processing answers to queries in order to solve complex problems.

(Reporting by Jaspreet Singh in Bengaluru; Editing by Tasim Zahid)