ChatGPT creator OpenAI is in talks to sell shares of exiting employees at a valuation of $86bn, reported Bloomberg, citing sources.
The US-based artificial intelligence (AI) company is negotiating the share sale, the sources said.
OpenAI, which is 49% owned by Microsoft, is yet to finalise the allocation of shares and specifics of the deal could still change, they added.
If the deal goes through, it will place OpenAI, which is led by CEO Sam Altman and president Greg Brockman, among one of the world’s most valuable companies.
With a valuation of $86bn, the company would join the likes of Stripe, Shein, SpaceX, and TikTok as one of the most valuable companies.
An OpenAI representative declined to comment on the development, reported the news outlet.
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In August, it was reported that OpenAI is set to generate $1bn in revenue as businesses adopt generative AI.
The development also underscores the potential of generative AI as one of the most investable technologies in the technology industry.
Following the November 2022 release of ChatGPT, interest and investment in the new technology has increased dramatically.
In May 2023, OpenAI raised $300m in funding at a $29bn valuation from investors, including Founders Fund, Thrive, K2 Global, Tiger Global, Andreessen Horowitz, and Sequoia Capital.
Earlier this month, it was reported that OpenAI is exploring the possibility of making its own AI chips.
Insiders claim that last year’s talks on how to address the limited supply of powerful AI chips led to a possible shift in focus towards chipmaking.
Altman’s goal is now expanding the company’s AI chip portfolio.