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OpenAI may want to sell shares to raise its enterprise value. The target is between 76 billion euros and 85 billion euros ($80 billion and $90 billion).

So say sources from the Wall Street Journal (WSJ). OpenAI is said to be currently in talks with investors about a sale of existing shares that should significantly upgrade its enterprise value. The targeted enterprise value of between $80 billion and $90 billion is three times the value the generative AI developer managed to achieve earlier this year.

In its pitch to investors, OpenAI indicated, according to the WSJ, that it expects to reach “unicorn” status this year. This represents revenue of $1 billion or more. By 2024, revenue could be many billions more.

The deal could put OpenAI in the same league as other startups that have high enterprise value. Think of Elon Musk’s SpaceX or TikTok’s parent company, Bytedance.

Deal terms

Part of the share deal is that OpenAI employees will be allowed to sell their existing shares. This is in lieu of the generative AI specialist issuing new shares to raise additional capital. The number of shares to be sold is likely to be several hundred. However, the terms may still change, WSJ writes.

Microsoft possible buyer

If the deal actually goes through, Microsoft will be the head investor on paper. The tech giant has a 49 percent stake in OpenAI and stepped in at a time when the company value was estimated at $30 billion.

Who might want to invest in OpenAI through a stock purchase is not known. According to the WSJ, rumors include Softbank showing interest.

Also read: OpenAI nearing $1 billion in annual revenue