OpenAI is reportedly in discussions to sell shares in a move that could increase the company’s valuation from $29bn to between $80bn and $90bn, according to the Wall Street Journal.
The report comes after the ChatGPT and Dall-E maker raised over $300m at a valuation of $29bn in funding from investors including Sequoia Capital, Andreessen Horowitz, Thrive and K2 Global.
The reported valuation, if confirmed, would cement OpenAI as one of the world’s most valuable companies – and seal generative AI as one of the technology industry’s most investable technologies.
Since the launch of ChatGPT in November 2022, OpenAI’s generative AI chatbot, investment and buzz around the emerging technology has grown exponentially.
The OpenAI-owned chatbot recorded 100 million monthly active users in January, as people flocked to the app for help with editing documents, creating code and more.
Generative AI has continued to see continued growth in investment this year, as Big Tech and start-ups continue to compete on generative AI.
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According to research company GlobalData, generative AI deals in the US totalled just over $5bn so far this year. This is a significant increase from 2022, which totalled $3.2bn.
Bard, Google's rival to ChatGPT, was released earlier this year to a mixed reception.
Meta also announced it was working on a range of generative AI chatbots to incorporate into its platforms. Verdict previously reported that Meta had an Abraham Lincoln styled-chatbot in the works.
OpenAI has been regularly expanding ChatGPT in an attempt to boost revenue streams. In August, the company released its enterprise version for business and corporate users.
The enterprise version provides paying companies with unlimited usage of the GPT model and allows business customers to work with much longer written prompts than the free consumer version.