OpenAI in talks to commit up to $1.5 billion to private equity joint venture, FT reports

April 22 : Artificial intelligence firm OpenAI is set to commit up to $1.5 billion to a new joint venture with private equity firms, the Financial Times reported on Wednesday, citing people with knowledge of the matter.

Reuters could not immediately verify the report.

OpenAI will commit an initial $500 million of its equity into the joint venture – internally named ‘DeployCo’- which will be valued at $10 billion as part of a funding round expected to close in early May, FT added.