The valuation of the startup might potentially be triple what it was at the beginning of the year if it were to be sold.
According to people familiar with the talks, OpenAI is in talks to sell shares, which could raise the company’s valuation from $29 billion to between $80 billion and $90 billion. Instead than issuing new shares, employee share sales would allow current shareholders to sell their shares.
In April, Sequoia Capital, Andreessen Horowitz, Thrive, and K2 Global invested over $300 million in OpenAI, valuing the firm at $29 billion. This was distinct from Microsoft’s investment, which concluded in January and was estimated to be worth $10 billion. ChatGPT, OpenAI’s popular generative AI assistant, has seen great success since its initial release, allowing users to generate text-based content such as essays and summaries. OpenAI recently declared that it expects to generate $1 billion in revenue by 2023.
