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ChatGPT in talks with Investors about selling shares at $29 Billion valuation!

Tender offer at that valuation would make OpenAI one of the most valuable U.S. startups in history!

Venture-capital firms Thrive Capital and Founders Fund are in talks to buy shares, the WSJ reported.

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OpenAI, the research lab behind the viral ChatGPT chatbot, is in talks to sell existing shares in a tender offer that would value the company at around $29 billion, according to people familiar with the matter, making it one of the most valuable U.S. startups on paper despite generating little revenue.

The tender could total at least $300 million in OpenAI share sales, they said. The deal is structured as a tender offer, with the investors buying shares from existing shareholders such as employees, the people said.

The new deal would roughly double OpenAI’s valuation from a prior tender offer completed in 2021, when OpenAI was valued at about $14 billion, The Wall Street Journal reported.

  • OpenAI has generated tens of millions of dollars in revenue, in part from selling its AI software to developers

OpenAI released a series of artificial intelligence-based products last year that captured the public’s attention, including the image-generation program Dall-E 2 and chatbot ChatGPT.

In 2019, Microsoft invested $1 billion in OpenAI and became its preferred partner for commercializing new technologies for services like search engine Bing and design app Microsoft Design.