ChatGPT Maker 'OpenAI' Surpasses 110 Trillion Won Valuation
Negotiations Underway in Employee Stock Sale Process
If Investment Secured, Will Become One of the World's Top 3 Private Companies
OpenAI, the developer of the generative artificial intelligence (AI) chatbot 'ChatGPT,' has been recognized as the third-largest global private company.
On the 18th (local time), Bloomberg reported that OpenAI's corporate value was acknowledged at $86 billion (approximately 117 trillion KRW). This valuation was recognized during the process of current OpenAI employees selling their shares to other investors.
If this investment is finalized, OpenAI will rise to become the third-largest private company by corporate value worldwide, following China's ByteDance, famous for 'TikTok,' and SpaceX, Elon Musk Tesla CEO's reusable rocket technology company.
OpenAI's increase in corporate value has been remarkable. In January this year, when it received a strategic investment from Microsoft (MS), OpenAI's valuation was estimated to be less than $30 billion.
However, in just 10 months, the corporate value surged nearly threefold. As a result, MS, which holds 49% of OpenAI's shares, is also expected to see significant profits.
Recently, valuations of unlisted startups have been repeatedly cut. Due to the impact of central banks' interest rate hikes worldwide drying up venture capital (VC) funding, companies have been lowering their valuations as a desperate measure to attract investments.
For example, Stripe, a payment technology company that once aimed to be the world's largest private company, had a corporate value of $95 billion in 2021 but was revalued at less than half that amount, $40 billion, this year to pursue new investments.
However, due to the generative AI boom sparked by OpenAI, AI-related companies' valuations are soaring. Bloomberg predicted that OpenAI's annual revenue could soon surpass $1 billion as multiple companies adopt ChatGPT.
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Meanwhile, on the 18th, OpenAI added a feature to its paid premium service 'GPT-4.0' that provides real-time internet search-based answers. Until recently, ChatGPT's responses were based only on data up to September 2021. OpenAI appears to be aiming to attract users to its paid service by developing a chatbot capable of delivering accurate, up-to-date information.
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