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OpenAI is reportedly raising funds at a valuation of $80 billion to $90 billion | TechCrunch

Sep 26, 2023 - techcrunch.com
OpenAI is reportedly in talks to sell shares, a move that could increase its valuation from $29 billion to between $80 billion and $90 billion. This comes after the company raised over $300 million in funding from backers such as Sequoia Capital, Andreessen Horowitz, Thrive and K2 Global earlier this year, and a significant investment from Microsoft, which owns 49% of the company.

The company's AI assistant, ChatGPT, has been a major success since its launch nine months ago, with plans to make it more interactive. OpenAI, which expects to reach $1 billion in revenue in 2023, would allow employees to sell their existing shares rather than issuing new ones, according to the Wall Street Journal.

Key takeaways:

  • OpenAI is considering selling shares which could increase the company's valuation from $29 billion to between $80 billion and $90 billion.
  • The company received over $300 million in funding from backers such as Sequoia Capital, Andreessen Horowitz, Thrive and K2 Global earlier this year, separate from a large investment from Microsoft.
  • OpenAI's AI assistant, ChatGPT, has been a major success since its launch nine months ago, and is set to become more interactive with voice conversation capabilities.
  • OpenAI, 49% owned by Microsoft, expects to reach $1 billion in revenue in 2023, and may allow employees to sell their existing shares.
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