ChatGPT creator OpenAI in talks for tender offer at $29B valuation - report | Seeking Alpha

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OpenAi, the firm behind the ChatGPT chatbot, is said in talks to sell existing shares in a tender offer that would value the company at about $29 billion.

Venture capital firms Thrive Capital and Founders Fund are in discussions to invest in the deal, which would include at least $300 million in shares sales, according to a WSJ report , which cited people familiar. The transaction is structured as a tender offer, where investor buy shares from existing holders.

The $29 billion valuation for OpenAI would be about double the $14 billion valuation the company was valued at in 2021, when it last completed a tender offer, according to the WSJ.

The WSJ reported in late October that Microsoft (MSFT) was said to be in advanced discussions for a new funding round for OpenAI. Microsoft disclosed in July 2019 that it invested $1 billion in OpenAI.

The Information reported on Tuesday that Microsoft (MSFT) is reportedly working on a version of its Bing search engine that uses the artificial intelligence software behind ChatGPT, to help with search inquiries, as it looks to close the gap with search engine leader Google (GOOGL).