OpenAI is in talks to sell $86bn worth of shares - media outlet

OpenAI, maker of chatbot ChatGPT, is in talks with investors to sell $86 billion worth of stock. If successful, it would be one of the largest private deals in the tech industry.

Here's What We Know

The startup is negotiating a tender offer - a deal to buy shares from the company's employees. The final terms have not yet been determined.

Microsoft already owns 49% of the startup's shares. With a total value of $86 billion, OpenAI will surpass Stripe and Shein in terms of capitalisation, and will become one of the most valuable private companies. It will be second only to ByteDance and SpaceX.

OpenAI also expects to generate $1bn in annual revenue as businesses adopt its technology.

Go Deeper:

• OpenAI will reach $90bn valuation if it allows employees to sell their shares - media outlet

Source: Bloomberg