From Nonprofit to $29 Billion Valuation – The Promise and Danger of OpenAI
The research lab behind the viral ChatGPT chatbot, OpenAI, is in talks to sell existing shares in a tender offer that would value the company at around $29 billion, according to people familiar with the matter, reported the Wall Street Journal on January 5. This would make OpenAI, which started life as a nonprofit and generates virtually no revenue, one of the most valuable U.S. startups. Chatbots have captured the imagination of users and investors alike. They provide fast, succinct, and outwardly accurate responses to detailed questions well beyond the capabilities of Alexa, Siri and Google search. Those queries might include providing the foundation for writing an article, like the one you are currently reading, in the style of IPWatchdog.