Microsoft-backed OpenAI said to discuss existing share sale, valuing it at $90B
Leon Neal
OpenAI, the artificial intelligence company backed by billions of dollars by Microsoft (NASDAQ:MSFT), has reportedly spoken with investors about an existing share sale that could value the company as much as $90B.
The company has told investors it expects to generate $1B in revenue this year and "many billions" more next year, The Wall Street Journal reported, citing people familiar with the discussions. At the $90B level, it would triple the valuation of the company set earlier this year, the news outlet added.
The share deal would allow employees to sell existing shares and not issue new shares, though terms of the deal could change, The Journal explained.
OpenAI did not immediately respond to a request for comment from Seeking Alpha.

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