OpenAI Builds an M&A War Chest

Will OpenAI make more acquisitions? The ChatGPT maker is in the process of raising $100 billion in additional cash. I wouldn’t be surprised if it uses some of that money or its richly valued shares to buy startups or lure even more talent. 

After all, it’s done this before. It used its stock to buy hardware guru Jony Ive’s startup, Io Products, in a $6.5 billion deal, when OpenAI was in the middle of raising a round that valued it at $260 billion before the funding. OpenAI is now on the cusp of a financing that will value it at more than $730 billion before the new capital—a higher market cap than all but the top 15 public companies.