A Vote of Confidence

A Vote of Confidence

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  • OpenAI is in talks to sell shares at a valuation of $86 billion. The artificial intelligence startup that developed the ChatGPT is negotiating with potential investors to put the deal up for bidding.
  • At a valuation of $86 billion, OpenAI's market value will surpass companies such as Stripe and the Chinese online retailer Shein to become one of the most valuable private companies owned by a small number of shareholders in the world, coming after Space. X, which is affiliated with Elon Musk, and ByteDance, the parent company of TikTok.

Why it matters

Bloomberg reported in August that OpenAI was approaching $1 billion in annual revenue as companies adopted the technology, meanwhile the Wall Street Journal reported last month that OpenAI was discussing a potential stock sale that would value the startup at between $80 billion and $90 billion.

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