OpenAI in talks to raise funds at $150 bln valuation: report

STORY: OpenAI is in talks to raise a lot more money.

A report by Bloomberg says the ChatGPT maker is aiming to get $6.5 billion from investors, and $5 billion more from banks.

The deal would reportedly see it valued at $150 billion.

That would be up almost three-quarters on the figure earlier in the year.

OpenAI didn’t respond to a request for comment on the report.

But the deal would cement the firm’s status as one of the world’s most valuable startups.

The frenzy sparked by ChatGPT has shaken up the tech sector and global stock markets since it was launched less than two years ago.

A fresh capital injection would also allow it to stay private for longer.

That is something most hot startups now aim for, avoiding market volatility and the regulatory costs of a public listing.

Abundant alternative sources of funding, including private equity, have further dimmed the appeal of share offerings.

OpenAI has also been able to rely on strong backing from tech titan Microsoft.

Recent reports have claimed Apple and AI chip champion Nvidia could join any new fundraising.