Startup Rockset is purchased by OpenAI for a nine-figure cash in a stock arrangement
The ChatGPT manufacturer said on Friday that OpenAI, sponsored by Microsoft, has acquired database and search analytics firm Rockset in order to improve the infrastructure for its corporate offerings.
The deal’s magnitude was not disclosed by the firms. According to people with knowledge of the situation, OpenAI acquired Rockset in an all-stock transaction for several hundred million dollars, making it one of the company’s biggest purchases by the rapidly expanding AI lab.
On the specifics of the agreement, OpenAI declined to comment. Investors placed the company’s final valuation at $86 billion during a takeover attempt earlier this year.
Founded by ex-Meta developers, Rockset develops real-time search and analysis databases and has profited from chatbots and anomaly detection apps that leverage artificial intelligence.
Supported by Greylock, Sequoia, and the venture capital arm of Hewlett Packard Enterprise, Rockset reported raising $105 million in total capital last year.
