The developer of ChatGPT, the generative artificial intelligence chatbot, is reportedly talking to investors about a potential share sale that would value the company at between $80billion and $90billion.
The valuation would be almost triple what the company was worth after a share sale just eight months ago and would make OpenAI one of the most valued start-ups globally, behind Elon Musk’s SpaceX and ByteDance, which owns the social media platform TikTok.
The potential deal, reported in The Times this morning, could allow employees to sell their existing shares, as opposed to the company issuing new ones to raise additional capital.
OpenAI representatives have begun pitching investors on the deal, though it is possible that the terms could change, the report claimed.
The start-up is 49% owned by Microsoft and expects to reach $1billion in revenue this year.
Based in San Francisco, OpenAI received $1billion from Microsoft in 2019 and in November 2022 its ChatGPT bot had a million users a day after its release.
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