Chinese chip stocks jump as Beijing reportedly warns against Nvidia’s H20
By Davit Kirakosyan
According to Berber Jin and Miles Kruppa from The Wall Street Journal, OpenAI, the research lab behind the viral ChatGPT chatbot, is considering selling shares in a deal that would value the company at approximately $29 billion.
According to people familiar with the matter, venture-capital firms Thrive Capital and Founders Fund are in talks to invest in the deal, which is structured as a tender offer, with the investors buying shares from existing shareholders such as employees. The deal would total at least $300 million in share sales.
The deal would roughly double the company’s valuation from a prior tender offer completed in 2021, when it was valued at about $14 billion, making it one of the most valuable U.S. startups on paper despite generating little revenue.
Last year, OpenAI released a number of AI-powered products that gained significant attention, such as the image-generating program Dall-E 2 and the chatbot ChatGPT.