OpenAI in Talks to Sell Shares at US$86 Billion Valuation

OpenAI, the creator of ChatGPT, is reportedly in discussions to sell shares held by its existing employees at a valuation of $86 billion.

Credits: REUTERS

This news comes from Bloomberg, which cited sources familiar with the matter. Last month, the Wall Street Journal reported that OpenAI, backed by Microsoft, was seeking a valuation of up to US$90 billion for a share sale.

ChatGPT, a chatbot known for generating human-like responses, has contributed to the surge in OpenAI's popularity and the significant increase in its valuation. Earlier this year, the company conducted a US$300 million share sale, valuing the company at US$30 billion.

OpenAI is currently engaged in negotiations for a tender offer with potential investors. However, the firm has not yet finalized allocations, and the terms of the deal could still change.

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• OpenAI is in talks to sell shares held by its employees at a valuation of US$86 billion.

• The company's chatbot, ChatGPT, has played a significant role in its rising popularity.

• OpenAI conducted a US$300 million share sale earlier this year, valuing the company at US$30 billion.

• The negotiations for the share sale are ongoing, and the terms of the deal could still change.

Source: REUTERS