MOSCOW – The developer of the ChatGPT artificial intelligence (AI) chatbot, OpenAI, is in talks with investors about selling part of its shares, with the total startup value possibly reaching nearly US$90 billion, tripling this year’s earlier valuation, reported Sputnik quoting a Wall Street Journal report on Wednesday, citing sources.
OpenAI representatives had offered the deal to investors, although the terms could be changed, the sources said. The deal should allow the company’s employees to sell their existing shares without issuing new ones to attract additional capital.
OpenAI expects its revenue to approach the US$1 billion milestone this year and surpass it in 2024, the sources added.
A valuation of over US$80 billion or more would make OpenAI one of the world’s most expensive startups, right after Elon Musk’s SpaceX and Zhang Yiming’s TikTok ByteDance.
ChatGPT gained popularity after its launch in November 2022, attracting its first million users in less than a week. In late January, Microsoft said it would invest “billions of dollars” in OpenAI. In early March, OpenAI unveiled a new multimodal AI model, GPT-4, which can recognise both text and images and solve complex problems with greater accuracy. – Bernama
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