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ChatGPT Could See OpenAI’s Valuation Reach $29 Billion

As with other popular AI generative tools such as DALL-E, ChatGPT is stealing much of the limelight in the world of AI

OpenAI, the company behind the chatbot ChatGPT, is currently in discussions to sell shares that value the firm at $29 billion.

The Wall Street Journal reported on the figures as the chatbot has seen viral intrigue. In addition to its social popularity, the AI program is also regarded as a significant advance in artificial intelligence.

The ChatGPT bot has drawn a lot of attention due to its generative capabilities. The system can create content that resembles college-grade essays, poems, music and even levels of coding. While this evolution in AI is impressive, it presents some concerns. New York City’s education board recently banned the use of the bot from schools, with worries that it could be used by students to cheat on schoolwork.

OpenAI generating future growth with ChatGPT

OpenAI is now apparently in talks to sell a $300 million stake, with an overall enterprise valuation of $29 billion. If these valuations are correct this would mean the company has more than doubled its worth over last year.

However, some have complained that the AI bot churns out repeated sentences and while often factually correct, it does make mistakes. Users have also reported that the system seems to struggle with some mathematical equations… Perhaps kids won’t be using it to cheat on homework after all.

Despite its pitfalls, ChatGPT is proving to be an interesting advancement for the AI scene. Users surpassed the one million mark in just a few days, representing a high level of interest. If negotiations go through, it would see OpenAI become one of the most valuable startups in the United States.

The Journal does state that the deal is yet to be finalised, so figures and facts could change. OpenAI has yet to release any official statement regarding the matter. While it’s yet to be seen what deals may or may not happen, it’s clear to see that ChatGPT is generating quite the buzz for AI generative tools.

Written By

Paige Cook is a writer with a multi-media background. She has experience covering video games and technology and also has freelance experience in video editing, graphic design, and photography. Paige is a massive fan of the movie industry and loves a good TV show, if she is not watching something interesting then she's probably playing video games or buried in a good book. Her latest addiction is virtual photography and currently spends far too much time taking pretty pictures in games rather than actually finishing them.

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