OpenAI is in talks with investors for a share sale that could value the startup behind ChatGPT at up to $90 billion, the Wall Street Journal reports.
The AI company, which is partially owned by Microsoft, has seen its valuation triple since the beginning of the year and is on track to reach $1 billion in revenue this year. The company is not looking to issue new shares. Instead, the deal would allow OpenAI and its employees to sell their existing shares, with OpenAI planning to sell hundreds of millions of dollars worth of stock. Microsoft’s investment could see a massive return, and OpenAI is likely to raise more funds for computing costs to develop and maintain its AI systems.