According to a report from the Wall Street Journal, OpenAI, the company behind the popular ChatGPT chatbot program, is currently in talks to sell shares that would value the firm at $29 billion. Venture capital firms Thrive Capital and Founders Fund are said to be buying at least $300 million in shares from existing shareholders.
OpenAI has made a name for itself in the artificial intelligence (AI) industry with its various projects and programs, including ChatGPT, which gained widespread attention for its ability to hold natural and realistic conversations with users.
The company was founded in 2015 by a group of high-profile tech executives and researchers, including Elon Musk, Sam Altman, and Greg Brockman.
Since its inception, OpenAI has focused on advancing the field of AI and making it more accessible to researchers and developers. The company has achieved a number of significant milestones, including the development of the first AI program to beat a professional human player at the complex board game Go.
The reported valuation of $29 billion for OpenAI is a significant increase from its previous valuation of $14 billion in 2021. This marks a major turnaround for the company, which struggled in its early years to secure funding and partnerships.
However, with the growing demand for AI technology in a variety of industries, OpenAI has seen its fortunes rise in recent years.
The reported involvement of Thrive Capital and Founders Fund in the sale of shares is also noteworthy, as both firms have a track record of investing in successful technology companies.
Thrive Capital, in particular, has a history of backing innovative start-ups, including the home-sharing company Airbnb and the messaging app Slack.
It is unclear at this time how the sale of shares will affect the operations and direction of OpenAI. The company has not commented on the report, and it is not known whether the sale of shares will result in a change of leadership or a shift in focus for the company.
Regardless of the outcome, the reported valuation of $29 billion for OpenAI is a testament to the company’s success and the growing demand for AI technology. As the field of AI continues to evolve and expand, it is likely that we will see more companies like OpenAI achieve similar levels of success and recognition.