Bloomberg reports that OpenAI, the American chat bot pioneer behind ChatGPT, is in discussions about selling shares that would position the company at an estimated value of 86 billion dollars. The information suggests the equity offering is not finalized and terms may still shift as talks proceed [Bloomberg].
Industry insiders note that OpenAI may not have completed the full distribution of funds yet, and conditions of the offering could change before anything becomes binding [Bloomberg].
Bloomberg also notes that OpenAI, co-founded by entrepreneur Elon Musk, is expected to rank among the most valuable private companies globally, with a valuation around 86 billion dollars, placing it alongside giants such as SpaceX and ByteDance in terms of private market worth [Bloomberg].
Analysts project that OpenAI’s annual revenue could shortly approach the 1 billion dollar mark as the company expands its commercial footprint in artificial intelligence applications and services [Bloomberg].
On October 7, reports indicated that OpenAI is exploring the development of its own chips to advance AI capabilities and control over hardware used to power its models [Bloomberg].
In related tech industry news, Microsoft has indicated shifts in its product distribution practices, signaling changes to the cadence of free software or game offerings and how it manages consumer access to certain services [Bloomberg].