This acquisition is OpenAI's first since its establishment in 2015. The company, which has raised $11.3 billion in venture capital funding to date, may continue to acquire more companies in the future. The acquisition of Global Illumination is speculated to be a talent acquisition, with OpenAI gaining the company's skilled team rather than its products.
Key takeaways:
- OpenAI LP has acquired Global Illumination Inc., a digital products company that uses AI to build creative tools and digital experiences. The acquisition price was not disclosed.
- Global Illumination's team, which has previously worked at Instagram, Facebook, YouTube, Google, Pixar, and Riot Games, will join OpenAI to work on core products, including ChatGPT.
- Global Illumination was venture capital-backed, having raised $14 million from investors including Paradigm Capital LP, Benchmark Capital Corp., and Slow Ventures LLC.
- This is the first acquisition for OpenAI since its founding in 2015. The company has raised $11.3 billion in venture capital funding to date, suggesting it has the financial resources to make further acquisitions.