Key Takeaways
- • Tiger Global Management is poised to realize an estimated $5bn in paper gains from its early investment in OpenAI, according to Bloomberg, as OpenAI pursues a funding round that could value the company at $1.4tn.
- • Tiger Global committed $150mn to OpenAI in 2021, when the company was valued at $15.7bn, after co-founder and CEO Sam Altman approached Tiger Global founder Chase Coleman.
- • Tiger Global has increased its OpenAI holding several times since the initial investment, per people familiar with the matter cited by Bloomberg.
- • OpenAI is in discussions to raise $30bn at the proposed $1.4tn valuation, which would make the position one of the most successful in Tiger Global's portfolio.
Summary
Tiger Global Management, the New York-based investment firm, is poised to generate an estimated $5bn in paper gains from its early investment in OpenAI, according to Bloomberg. The gain is tied to OpenAI's pursuit of a funding round that could value the artificial intelligence group at $1.4tn.
Tiger Global committed $150mn to OpenAI in 2021, when the company was valued at $15.7bn. The investment followed an approach by co-founder and chief executive Sam Altman to Tiger Global founder Chase Coleman. Since then, the position has grown substantially in value as OpenAI has become one of the most closely watched AI businesses in the world.
People familiar with the matter, cited by Bloomberg, say Tiger Global has increased its holding several times since the initial investment. OpenAI is now in discussions to raise $30bn at the proposed $1.4tn valuation. If completed, the round would crystallise a mark-to-market gain for Tiger Global that would rank among the most successful positions in the firm's portfolio. The figures reported are paper gains and have not been realised.
The Armchair Trader's full article is available only to members of its Pro service, so further detail beyond the Bloomberg-sourced reporting is not available in this summary.
Tiger Global committed $150mn to OpenAI in 2021, when the company was valued at $15.7bn. The investment followed an approach by co-founder and chief executive Sam Altman to Tiger Global founder Chase Coleman. Since then, the position has grown substantially in value as OpenAI has become one of the most closely watched AI businesses in the world.
People familiar with the matter, cited by Bloomberg, say Tiger Global has increased its holding several times since the initial investment. OpenAI is now in discussions to raise $30bn at the proposed $1.4tn valuation. If completed, the round would crystallise a mark-to-market gain for Tiger Global that would rank among the most successful positions in the firm's portfolio. The figures reported are paper gains and have not been realised.
The Armchair Trader's full article is available only to members of its Pro service, so further detail beyond the Bloomberg-sourced reporting is not available in this summary.
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