Shulou(Shulou.com)11/24 Report--

Beijing, January 6 (Xinhua) OpenAI, the research lab behind the popular chat robot ChatGPT, is in talks to sell existing shares in the form of an offer to sell existing shares, valuing it at about $29 billion (currently about 199.81 billion yuan), making it one of the most valuable American start-ups on paper, despite its small revenue, according to people familiar with the matter.

Venture capital firms Thrive Capital and Founders Fund are in talks to buy shares, according to people familiar with the matter, developed by ▲ OpenAI. The deal will attract investors to buy at least $300m (currently about 2.067 billion yuan) of OpenAI shares. The deal is conducted in a tender offer structure, making it easier for investors to buy shares from existing shareholders such as employees, according to people familiar with the matter. Tender offer refers to the intention of all shareholders of the acquired company to purchase shares of the company.

The new deal will value OpenAI at about twice as much as the last offer completed in 2021, when OpenAI was valued at about $14 billion (currently about 96.46 billion yuan). OpenAI has generated tens of millions of dollars in revenue, partly from selling its artificial intelligence software to developers, but some investors are sceptical that the company can generate meaningful revenue from the technology. However, OpenAI investor Microsoft is said to be preparing to integrate the artificial intelligence technology behind ChatGPT into Bing search.

The final deal has not yet been reached and the terms are likely to change, according to people familiar with the matter. OpenAI declined to comment.

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