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OpenAI is set to see its valuation at $80 billion—making it the third most valuable startup in the world

Oct 23, 2023 - qz.com
OpenAI, the creator of AI tools ChatGPT and DALL-E, is reportedly in talks to strike a deal involving employee shares that could triple its valuation to $80 billion. This would make it the third most valuable private company globally, surpassing Stripe and Shein, and the most valuable in San Francisco. The company is also in discussions with investors, including Thrive Capital, to sell up to $1 billion worth of employee shares in a tender offer.

Despite a decrease in global startup funding, AI-related firms continue to attract capital. OpenAI is leading the pack of startups in the generative AI sector and is expected to generate $1 billion in annual revenue from ChatGPT. Investors are optimistic about OpenAI's potential, with some believing it could become a standalone public company valued over $1 trillion in the future.

Key takeaways:

  • OpenAI is in discussions to strike a deal involving employee shares that could triple its valuation to $80 billion, making it the third most valuable private company in the world and the most valuable in San Francisco.
  • OpenAI is in talks with investors including Thrive Capital to sell up to $1 billion worth of employee shares, which could help it compete for engineering talent.
  • Despite a global downturn in startup funding, AI-related firms like OpenAI are exceptions, with investors optimistic about their future potential.
  • OpenAI is reportedly on track to generate $1 billion in annual revenue from its AI tool ChatGPT and is exploring the development of its own AI chips and artificial general intelligence.
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