The Wall Street Journal reported on Thursday that OpenAI, the artificial intelligence research lab behind chatbot ChatGPT, is in talks to sell existing shares in a tender offer that would value the company at around $29 billion (roughly Rs. 2,39,700 crores). . people familiar with the matter.
report good It added that the deal is structured in such a way that venture capital firms Thrive Capital and Founders Fund will buy shares from existing shareholders such as employees.
The deal will attract investment of at least $300 million (roughly Rs. 2,480 crores) in the share sale.
Billionaire and CEO of Tesla Elon Musk Founded research organization with investor Sam Altman.
Microsoft which invested $1 billion (roughly Rs. 8,260 crores) in OpenAI in 2019, working to launch a version of its search engine bing Now using the AI behind Viral chatgptnotice Reported on Tuesday.
OpenAI A chatbot is a software application designed to mimic a human-like conversation based on user gestures and can answer a large number of questions while mimicking human speaking style.
The firm expects business to boom as it told investors the organization expects $200 million (about Rs 1,650 crore) in revenue next year and $1 billion by 2024, Reuters Reported In December. Three sources told OpenAI’s recent pitch to investors that the organization expects $200 million in revenue next year and $1 billion by 2024.
The forecast, first reported by Reuters, reflects how some in Silicon Valley are betting on the underlying technology to go far beyond spectacular and sometimes flawed public demos.
Microsoft, providing OpenAI capital and computing power for its software, is a beneficiary. Asked about ChatGPT and whether Microsoft views such technology as experimental or strategic, its president Brad Smith told Reuters that AI has progressed faster than many predicted.
OpenAI and Thrive Capital declined to comment, while Founders Fund did not immediately respond to a Reuters request for comment.
© Thomson Reuters 2023
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