ChatGPT maker OpenAI will raise funds at a valuation of $80 to $90 billion.

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San Francisco. OpenAI, run by Sam Altman, is reportedly raising funds through the sale of existing shares at a valuation of $80-90 billion.

According to The Wall Street Journal, the ChatGate developer is talking to investors about a share sale that would value the company at between $80 billion and $90 billion, nearly triple its level earlier this year. .

OpenAI generates revenue in part by charging individuals for access to powerful versions of ChatGPT.

“Instead of the company issuing new shares, employees will be allowed to sell their existing shares,” the report said.

In April, OpenAI completed a share sale of more than $300 million at a valuation of $29 billion.

Altman has privately suggested that OpenAI could seek to raise as much as $100 billion in the coming years to achieve its goal of developing artificial intelligence (AGI) that advances enough to improve its capabilities. Is.

Earlier this year, Microsoft invested nearly $10 billion in AI startups. The tech giant holds a 49 percent stake in OpenAI.

Last month, OpenAI said it expected revenue to reach $1 billion in 2023.

According to media reports, if ChatGPT maker OpenAI does not get more funding soon, it may go bankrupt by the end of 2024.

A recent report by Investopedia claims that it is too early for any AI leading company like OpenAI, Anthropic or Inflexion to enter the Initial Public Offering (IPO) market.

“This is because it takes at least 10 years of operation and $100 million in revenues for an IPO to be successful,” the report said.

(IANS)

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