(Reuters) –OpenAI stated on Tuesday it is going to purchase Statsig in an all-stock deal valuing the product testing startup at about $1.1 billion primarily based on OpenAI’s present valuation of $300 billion.
The ChatGPT maker may also appoint Statsig’s chief government officer, Vijaye Raji, as OpenAI’s tech chief of purposes, in a push to construct on its synthetic intelligence merchandise amid robust competitors from rivals.
The transfer comes just a few months after OpenAI acquired former iPhone designer Jony Ive’s startup, io Merchandise, in a $6.5 billion deal to assist develop AI {hardware}.
Bolstered by its flagship product ChatGPT, OpenAI doubled its income within the first seven months of the 12 months, reaching an annualized run price of $12 billion, and is on monitor to succeed in $20 billion by the tip of the 12 months, Reuters reported in August.
The corporate can be trying to shut a young supply spherical to worker liquidity at a $500 billion valuation.
In his function, Vijaye will head product engineering for ChatGPT and the corporate’s coding agent, Codex, with tasks that span core methods and product strains together with infrastructure, the corporate stated.
Statsig builds instruments to assist software program builders take a look at and flag new options. It raised $100 million in funding earlier this 12 months.
As soon as the acquisition is finalized, Statsig staff will work for OpenAI however will proceed working independently out of its Seattle workplace, OpenAI stated.
(Reporting by Zaheer Kachwala and Krystal Hu; Enhancing by Alan Barona)
