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ChatGPT-owner OpenAI skyrockets in valuation amid AI gold rush, to be valued at $90 billion after sale of existing share | Mint

Sep 27, 2023 - livemint.com
San Francisco-based tech firm OpenAI is reportedly in talks to sell existing shares, potentially raising its valuation to between $80 and $90 billion. This surge in valuation is nearly triple what the firm was worth after a share sale earlier in 2023. The proposed sale would not raise new capital but would allow existing shareholders and insiders to sell their stakes. This comes amidst an AI investment boom, with OpenAI's generative AI technologies like ChatGPT gaining public attention and contributing to a climate of enthusiasm around AI ventures.

OpenAI recently announced the addition of voice and image capabilities to ChatGPT, with plans to integrate these features into mobile platforms like Apple's iOS and Google's Android in the coming weeks. Microsoft has already invested billions into OpenAI, intensifying the AI rivalry among global tech giants like Google, Meta, and Microsoft. These companies are keen to exploit generative AI's potential while navigating potential risks such as misuse for spreading misinformation or cybercrime.

Key takeaways:

  • OpenAI, a San Francisco-based tech firm, is reportedly in talks to sell existing shares, potentially increasing its valuation to between $80 and $90 billion.
  • The company's surge in valuation is nearly triple what it was worth after a share sale in 2023, and the proposed sale would allow existing shareholders and insiders to offload their stakes.
  • OpenAI's generative AI technologies, such as ChatGPT, are gaining public attention and contributing to a climate of enthusiasm around AI ventures, attracting significant investments into the sector.
  • OpenAI recently announced the addition of voice and image capabilities to ChatGPT, with plans to integrate these features into mobile platforms like Apple's iOS and Google's Android in the coming weeks.
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