ChatGPT-owner OpenAI skyrockets in valuation amid AI gold rush, to be valued at $90 billion after sale of existing share
OpenAI is reportedly in talks to sell existing shares in a deal that could catapult its valuation to a staggering $80 to $90 billion, according to unnamed sources cited by both Reuters and the Wall Street Journal. This massive valuation increase comes amidst an AI investment boom, positioning OpenAI as one of the world's most valuable privately-held companies. The surge in valuation would be nearly triple compared to what the firm was worth after a share sale earlier in 2023, according to the Wall Street Journal.
The proposed sale would not raise new capital but would enable existing shareholders and insiders to offload their stakes. Interestingly, this news comes as generative AI technologies like ChatGPT, developed by OpenAI, are increasingly capturing public attention. ChatGPT has been heralded as a groundbreaking achievement in the AI sphere, given its capacity for generating human-like text based on user prompts.
The platform's popularity has contributed significantly to a climate of enthusiasm around AI ventures, drawing hefty investments into the sector. Startups such as Inflection and Anthropic have also secured considerable funding in recent months. Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here! Adding fuel to the AI hype, OpenAI announced this week the addition of voice and image capabilities to ChatGPT.
Read more on livemint.com
