Microsoft-backed OpenAI has made one of its largest acquisitions to date by purchasing Rockset, a specialized startup in search and database analytics, through a stock deal valued at several hundred million dollars, the ChatGPT creator announced on Friday.
While the financial specifics of the acquisition remain undisclosed, sources familiar with the matter told Reuters that earlier this year, Rockset was valued at $86 billion in a tender offer by investors.
Rockset, founded by former Meta engineers, focuses on developing real-time search and analytics databases. The company's technology integrates artificial intelligence into applications such as chatbots and anomaly detection, making it a valuable addition to OpenAI's suite of enterprise products.
Backed by prominent investors including Greylock, Sequoia, and Hewlett Packard Enterprise's venture capital arm, Rockset has raised a total of $105 million in funding as of last year.
Following the acquisition, Rockset's team will join forces with OpenAI to enhance the retrieval infrastructure for the company's enterprise offerings, aiming to deliver more robust and efficient AI-driven solutions to businesses worldwide.
Reference(s):
cgtn.com
