Open AI and its ChatGPT chatbot fascinate the most curious and this attraction gives its creator some ideas. While the company has generated little revenue so far, it is said to be in talks with investors to sell shares, in a takeover bid, that would value the company at around $29 billion, reveals the Wall Street Journal.
In this way, OpenAI expects to reach a turnover of 200 million dollars in 2023. Specifically, the operation is structured as a public acquisition offer, investors buy shares from shareholders as employees.
No final deal has been reached and terms could change, but if the offer is accepted at this value, OpenAI would accomplish a feat as investors have been more cautious in a tense and ailing tech sector.
A now lucrative business
OpenAI, led by Sam Altman and co-founded by Elon Musk, was founded as a nonprofit organization in 2015. The company created a for-profit arm in 2019 to make it easier to raise funds.
In an interview granted to Wall Street Journal Last December, Sam Altman said that OpenAI had no intention of “going through an acquisition or going public, which means that investors would probably only be able to withdraw money through secondary sales of shares.”
Microsoft’s search engine, Bing, would also have approached ChatGPT to compete with Google. In 2019, Microsoft invested a billion dollars in OpenAI and became its partner of choice.
Source: BFM TV
