OpenAI, the research lab behind the viral ChatGPT chatbot, is in talks to sell existing shares in a tender offer that would value the company at around $29 billion, making it one of the most valuable U.S. startups on paper despite generating little revenue.
ChatGPT, the chatbot where users get intelligent responses for queries such as “describe a debate between two college students about the value of a liberal arts education,” crossed one million users a few days after its Nov. 30 launch, according to a tweet from Mr. Altman. Some industry observers have lauded the tool as a major technological breakthrough and a potential alternative to current search engines down the road, though Mr. Altman has acknowledged that the program’s outputs often contained factual errors. OpenAI hopes to one day achieve what AI researchers call “artificial general intelligence,” or technology that can fully mirror the intelligence and capabilities of humans. In a December interview with the Journal, Mr. Altman said OpenAI’s tools could transform technology similar to the invention of the smartphone and tackle larger scientific challenges.