OpenAI Launches Deployment Company, Agrees to Acquire Tomoro

MT Newswires Live05-11

Microsoft-backed OpenAI is launching the OpenAI Deployment Company and has agreed to acquire Tomoro, an applied AI consulting and engineering firm, the company said Monday.

The OpenAI Deployment Company is a new company dedicated to helping organizations build and deploy AI systems, with more than $4 billion in initial investment.

The new company is majority-owned and controlled by OpenAI, with 19 investment firms, consultancies and system integrators as partners, led by TPG, OpenAI said.

Tomoro's acquisition will add about 150 engineers and deployment specialists to the OpenAI Deployment Company, OpenAI said. Financial terms of Tomoro's acquisition were not disclosed.

The purchase is expected to close in the coming months, OpenAI added.

Price: 408.80, Change: -6.26, Percent Change: -1.51

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment