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Time of India

ChatGPT maker OpenAI to become whopping $500 billion company? Details here

Live Events FAQs (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel OpenAI, the maker of ChatGPT , is in talks to sell $6 billion in shares owned by its current and former employees to investors, in a deal that would value the artificial intelligence company at roughly $500 billion, according to two people with knowledge of the discussions. At $500 billion, OpenAI would become the world's most valuable privately held company, according to data from startup tracker CB Insights. The San Francisco-based AI lab has raised billions of dollars in recent years from investors including Microsoft, SoftBank and venture capital firms as it has raced to take the lead in the contest over artificial intelligence, as per a has seen its valuation repeatedly jump higher, from $157 billion in October to $300 billion in March. That month, the company reached an agreement with SoftBank and other investors for a new funding, which was set to raise $40 billion by the end of the year, NYT News Service this latest deal, known as a secondary market sale, OpenAI's current and former employees would agree to sell company shares to SoftBank, Thrive Capital and its other investors, the people with knowledge of the discussions said. The talks over the transaction are ongoing, and the particulars could discussions over a secondary market sale were earlier reported by Silicon Valley, AI companies have been deluged by investor interest amid an escalation in the race over the technology. Meta, Google, Amazon, Microsoft and OpenAI are spending billions to hire AI researchers to advance the technology, as well as building out data centers and other infrastructure to power the development of are eager to get a piece of the action. Venture capital deals for AI startups reached $129 billion this year through August 18, up from $106 billion for all of 2024, according to data from PitchBook, which tracks startups.A1. OpenAI has seen its valuation repeatedly jump higher, from $157 billion in October to $300 billion in March. That month, the company reached an agreement with SoftBank and other investors for a new funding, which was set to raise $40 billion by the end of the year, NYT News Service reported.A2. Venture capital deals for AI startups reached $129 billion this year through August 18, up from $106 billion for all of 2024, according to data from PitchBook, which tracks startups.