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OpenAI is reportedly raising funds at a valuation of $80 billion to $90 billion
September 29, 2023

OpenAI is reportedly raising funds at a valuation of $80 billion to $90 billion

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OpenAI is in discussions to possibly sell shares in a move that would boost the company’s valuation from $29 billion to somewhere between $80 billion and $90 billion, according to a Wall Street Journal report citing people familiar with the talks.

Employees would be allowed to sell their existing shares rather than the company issuing new ones, the Wall Street Journal said.

In April, OpenAI picked up just over $300 million in funding from backers such as Sequoia Capital, Andreessen Horowitz, Thrive and K2 Global at a valuation of $29 billion. That was separate to a big investment from Microsoft announced earlier this year, which closed in January. The size of Microsoft’s investment was believed to be around $10 billion.

The artificial intelligence company, which is 49% owned by Microsoft, said in late August that it expected to reach $1 billion in revenue in 2023.


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