OpenAI makes $1.1 billion acquisition as Nigerian billionaire Ogunlesi serves on board

Since Nigerian billionaire Adebayo Ogunlesi joined the board of directors of OpenAI in January, the company behind ChatGPT has been on a steady buying streak. Its latest move is the $1.1 billion acquisition of Statsig, a product development startup known for helping companies test new features and analyze real-time data.

OpenAI expands with $1.1 billion acquisition

Statsig, based in Seattle, builds tools that allow organizations to experiment with products and make decisions based on live feedback. The all-stock deal, which values Statsig at about $1.1 billion based on OpenAI’s $300 billion valuation, comes as OpenAI looks to expand ChatGPT and develop new applications for its growing base of individual and business users worldwide.

The deal is the latest in a series of bold steps by OpenAI in the months since Ogunlesi, the founding partner, chairman, and chief executive of Global Infrastructure Partners (GIP), joined its board. OpenAI has said it wants to make artificial intelligence practical, safe, and widely useful — a goal that requires strong engineering systems, rapid testing, and a commitment to long-term quality.

AI lab expands hardware, testing reach

The company has not been shy about putting its resources to work. Earlier this year, it explored buying Windsurf, an AI-assisted coding tool, for $3 billion, though the deal fell through and Google later secured rights to the technology. Its largest acquisition so far came in May, when it struck a $6.5 billion all-equity deal for Jony Ive’s AI devices startup, IO, marking its first real push into hardware.

Statsig has already been central to how OpenAI develops and launches products. Bringing the startup fully in-house will give OpenAI more control over experimentation and product testing, while still allowing Statsig to serve its existing customers. Once regulators clear the deal, Statsig’s employees will join OpenAI, though the company will continue to operate from its Seattle office with a degree of independence to ensure stability for clients.

BlackRock, GIP forge $12.5 billion deal

Ogunlesi’s appointment to the OpenAI board followed a $12.5 billion deal between GIP and BlackRock in early 2024. That transaction — $3 billion in cash and 12 million BlackRock shares valued at $9.5 billion — created one of the world’s largest infrastructure investment platforms, overseeing more than $150 billion across equity, debt, and other strategies.

Under Ogunlesi, GIP had already grown into the largest independent infrastructure manager, with more than $100 billion under management. Forbes’ latest ranking now places him as the world’s 1,540th wealthiest individuals, moving up more than 450 spots in just a week.