OpenAI aims for $90B valuation in potential share sale

OpenAI is in talks to sell shares, which could boost their valuation from $29B to $80 -$90B!

• Existing Shares: It's not the production of new shares that's causing the buzz, but rather the opportunity for current employees to sell their existing ones.

• Earlier Investment: Earlier this year, OpenAI bolstered their finances with $300M, thanks to contributions from investors such as Sequoia Capital, Andreessen Horowitz, Thrive, and K2 Global. This consequently elevated their valuation to a solid $29B.

• Microsoft Deal: Adding to this financial flurry, Microsoft entered the scene with a $10B investment in OpenAI. Microsoft now has a 49% stake in OpenAI.

• AI assistant: ChatGPT, has been stealing the spotlight since it stepped onto the tech stage nine months ago. From writing essays and creating poetry to summarizing complex information with simple prompts.

• New Feature: ChatGPT is gearing up for a significant upgrade. Soon, users will be able to engage in voice conversations with this intelligent chatbot.

To top it all off, OpenAI is targeting a revenue of $1B by 2023.