OpenAI Offers Lucrative Packages of Up to Rs 83 Crore Annually to attract Top Google Engineers and Researchers

OpenAI, a leading artificial intelligence research lab, is offering top researchers from Google annual pay packages of up to $10 million (over Rs 83 crore), according to a report by The Information. This is in an effort to attract top talent and establish itself among the industry's giants.

OpenAI is targeting senior researchers from Google's AI teams, promising them annual pay, mostly in the form of stock, ranging from $5 million to $10 million. OpenAI CEO Sam Altman has even personally appealed to key Google AI researchers to join the firm.

The company is also planning to sell existing employees' shares, valuing the company at an impressive $80 billion to $90 billion. If workers join OpenAI before the sales go through, they could get stock right before the valuation approximately triples, meaning their shares could quickly jump 300 per cent in value, plus they could get large stock grants later on.

Aggressive Recruitment Strategy:

OpenAI is intensifying efforts to recruit senior researchers from Google's AI teams, presenting them with enticing annual pay, predominantly in the form of stock grants. The offered packages reportedly range between $5 million and $10 million.

Personal Appeals by CEO Sam Altman :

OpenAI's CEO, Sam Altman, is reportedly making personal appeals to key researchers in Google's AI divisions, urging them to consider joining OpenAI and contributing to its ambitious projects.

Strategic Valuation Plans:

OpenAI plans to sell shares held by existing employees, a move that would potentially value the company between an impressive $80 billion to $90 billion. Prospective hires who join before this valuation could witness significant stock appreciation, potentially tripling in value.

Revenue Streams:

OpenAI generates revenue through various channels, including $20-a-month subscriptions for ChatGPT Plus. Additionally, the company sells the usage rights of its AI models to developers and businesses. Microsoft, which holds approximately half of OpenAI, has invested billions and provides essential cloud computing resources.

Market Dynamics:

Despite industry-wide tech layoffs in 2023, companies are heavily investing in AI-focused entities. Anthropic, another San Francisco-based AI startup, recently secured substantial investments from Amazon and Google.

Talent Wars:

The competition for top AI talent is evident as employees move between OpenAI and Google. This suggests an emerging talent war between the two tech giants.

Industry Impact:

OpenAI's aggressive recruitment strategy signifies the growing importance of AI expertise in the tech landscape. The company's leasing of a significant office space in San Francisco and its focus on attracting top talent underscore its determination to establish itself among industry giants.

The move to lure talent from Google showcases OpenAI's commitment to advancing AI capabilities and staying at the forefront of technological innovation.

Latest facts

• OpenAI recently leased 486,600 square feet of office space from Uber in San Francisco's Mission Bay.

• Despite the prevailing trend of layoffs in the larger tech industry in 2023, companies are spending heavily on companies developing AI models.

• Another San Francisco AI startup, Anthropic, recently announced billions in new investments from Amazon and Google, each of which laid off thousands of workers within the last year.