OpenAI is currently engaged in discussions regarding the potential sale of shares, a move anticipated to elevate the company’s valuation from $29 billion to approximately $80 billion to $90 billion, as reported by individuals familiar with the matter in The Wall Street Journal.
As part of this initiative, OpenAI is considering allowing its employees to sell their existing shares, rather than introducing new ones, as detailed in The Wall Street Journal’s report.
In April, OpenAI secured over $300 million in funding from prominent backers including Sequoia Capital, Andreessen Horowitz, Thrive, and K2 Global, valuing the company at $29 billion. This funding was distinct from Microsoft’s substantial investment, which was revealed earlier in the year and amounted to an estimated $10 billion.
OpenAI’s immensely popular generative AI assistant, ChatGPT, has emerged as a remarkable technological success story since its introduction approximately nine months ago. It enables individuals to effortlessly generate essays, poems, and summaries by using simple text-based prompts. TechCrunch recently reported that ChatGPT is poised to become even more interactive, with users gaining the ability to engage in voice conversations with the chatbot.
In late August, OpenAI, which is 49% owned by Microsoft, disclosed its projection of achieving $1 billion in revenue for the year 2023.
