Recently, artificial intelligence giant OpenAI Ongoing rounds of newFinancingNegotiations with a target valuation of $150 billion.
According to Bloomberg, OpenAI is looking to raise $6.5 billion from investors and plans to apply for a $5 billion revolving credit facility from banks.
This would give OpenAI a new valuation of $74% higher than the $86 billion it acquired earlier this year through a right of first refusal.
OpenAI's high valuation is largely due to its popular chatbot, ChatGPT, which has made a huge splash in the market and quickly made OpenAI a major player in the AI industry. The company is led by Sam Altman and backed by tech giant Microsoft, fueling Silicon Valley's renewed interest in the AI space.
Additionally, Forge Global Holdings, a marketplace platform that specializes in private securities trading, recently included OpenAI in its list of "Private Seven Giants." These giant companies include well-known companies such as Microsoft, Apple, Google's parent company Alphabet, and Tesla.
Although OpenAI has not yet formally responded to the financing plan, the market is looking forward to it. Thrive Capital, the main lead investor in the funding, has not commented on the matter.