
OpenAI is losing its second executive this week
Another OpenAI executive is departing. Denise Dresser, who joined OpenAI as its chief revenue officer in December after serving as CEO of Slack, will be leaving in the "coming weeks" to "pursue other opportunities," she said in a team note posted to LinkedIn. Dali Rajic, president and COO of Wiz, will be taking over the CRO role, OpenAI says. Dresser's departure is just the latest in a string of major exits. Earlier this week, special projects lead and former COO Brad Lightcap
OpenAI's chief revenue officer is leaving the company to pursue other opportunities, marking the second major executive departure this week. Earlier in the week, the special projects lead and former COO also announced his departure. This exodus follows recent exits by the former AGI chief and former CMO, signaling significant turnover at the company's leadership level. The departures come as OpenAI prepares for an IPO that was announced in June.
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Anthropic sets IPO price range of $70 to $78 per share to reach an implied valuation of $1.404 trillion
The company could end up being worth a hefty $1.404 trillion if its shares list at the top of the price range, on a fully diluted basis.
Also reported by SiliconANGLE

Anthropic pushes ahead with pre-Thanksgiving IPO despite tech selloff, accepts lower valuation
Despite the tech selloff, Anthropic is pressing ahead with its IPO at a valuation of $1.25 to $1.75 trillion, well below the hoped-for $2 trillion. The Claude developer aims to raise $80 to $100 billion before Thanksgiving. Rival OpenAI has also recently had to cut its valuation. The article Anthropic pushes ahead with pre-Thanksgiving IPO despite tech selloff, accepts lower valuation appeared first on The Decoder.
Also reported by TechCrunch and The Verge

OpenAI valued at $1.25 trillion, as rival Anthropic nears its IPO
OpenAI is now valued at $1.25 trillion in a new round of funding that has raised another $11 billion, according to Bloomberg. That would make it one of the world's most valuable companies, not long after raising $122 billion from investors in March at a valuation of $852 billion. Echoing FT and Wall Street Journal reports from last week, Bloomberg says OpenAI is still pursuing additional investments that could increase the amount to $20 billion, and that it had initially hoped
Also reported by SiliconANGLE and The Decoder

Taiwan’s chipmaking giant TSMC to invest $1B in Anthropic, OpenAI
Top chip manufacturer TSMC is ready to invest $1 billion in Anthropic and OpenAI. That would give the Taiwanese chipmaker direct stakes in leading AI developers, even as its own contract chipmaking business has profited enormously from the AI data center buildout. The chipmaker’s board approved plans to invest up to $500 million in OpenAI preferred stock reserved for large investors and another $500 million to purchase Anthropic common shares at the latter’s expected IPO price, according to Reut

Anthropic Seeks Record $88.5B Tied To Public Market Debut
Anthropic is seeking to secure up to $88.5 billion in its planned IPO and a concurrent private placement, potentially making it the largest-ever fundraise tied to a public market debut. On Tuesday, the AI giant submitted an updated S-1 filing for its upcoming public offering, unveiling new details including a proposed share price range offering size. The offering could set a fully diluted valuation of up to $1.4 trillion for the San Francisco company. Anthropic’s expected valuation comes in belo

With $720M round, Britain’s Fractile gets a leg up in the race for AI chips
Fractile has now become one of the top-funded players in the race for purpose-built AI chips.