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ChatGPT’s OpenAI Negotiates to Sell Shares

D. Atika by D. Atika
2 years ago
in Stock Analysis

The Wall Street Journal (WSJ) quoted sources as saying that ChatGPT’s developer OpenAI, which has driven the artificial intelligence (AI) craze, is negotiating with investors to sell existing shares by calculating its corporate value at up to $90 billion.

OpenAI will estimate its enterprise value at $80 billion to $90 billion and sell hundreds of millions of dollars worth of existing shares to investors in Silicon Valley.

Earlier in January, OpenAI sold billions of dollars’ worth of shares to Microsoft (MS) in recognition of about $30 billion in corporate value.

Therefore, if the deal is completed, the company’s corporate value will almost triple in just a few months.

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Microsoft, which currently owns 49% of its stake, will also earn enormous valuation gains if the sale takes place.

In addition, OpenAI will reportedly give employees the opportunity to sell their existing shares instead of issuing new shares to raise capital during the sale negotiations.

OpenAI executives say during negotiations with investors that sales will reach $1 billion this year and sales will increase to billions of dollars next year.

Sources say OpenAI is attracting attention from large investors, including Son Jeong-ui, chairman of Japan’s Softbank, as it expects to issue new shares to raise additional funds separately from the sale negotiations.

However, OpenAI is opposed to Microsoft becoming a major shareholder, so it is unlikely that Microsoft will buy additional shares in the company’s financing process.

Tags: ChatGPTITIT SharesIT stocksOpenAIOpenAI sharesOpenAI stockOpenAI stockssharesstock
D. Atika

D. Atika

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