Open AI seeking a $90 Billion valuation

OpenAI, the AI startup behind ChatGPT, is seeking a new valuation of up to $90 billion by allowing employees to sell existing shares.

What's going on here?

OpenAI aims to triple its valuation from earlier this year through a new share sale.

What does this mean?

OpenAI's valuation is skyrocketing thanks to ChatGPT's popularity and its expected billion-dollar revenue this year. OpenAI is in talks to allow employees to sell existing shares to investors, which could value the company at $80-90 billion—almost triple its earlier $29 billion valuation.

Why should I care?

This highlights the exploding value of AI due to chatbots like ChatGPT. ChatGPT's widespread popularity is driving OpenAI's revenue, making it one of the most valuable global startups.