Softbank is said to be looking to invest in the ChatGPT-maker, according to a report by Financial Times.
The Wall Street Journal, citing unnamed people familiar with the matter, reported that the AI company won’t issue any new shares as part of the deal. It stated the company representatives have also started pitching investors on the deal, while also noting that the terms of the deal could change.
The company is expected to generate $1 billion in revenue this year and ‘many billions’ more in 2024, according to the WSJ.
If the deal materializes and OpenAI’s valuation reaches $90 billion, it would become the third most highly valued startup in the world. It is already the most highly valued AI startup in the world.