According to reports, San Francisco-based software company OpenAI is in talks to sell its current stock in a move that could boost its worth to an astounding $80 to $90 billion.

This significant valuation growth coincides with a boom in AI investments, making OpenAI one of the most valuable privately held businesses in the world.

The increase in value would be about quadruple what the company was worth following a share sale earlier in 2023.

The planned sale would allow current owners and insiders to sell their holdings while without generating any new cash.

It's interesting that this news breaks as generative AI innovations like OpenAI's ChatGPT gain popularity with the general audience.

Given its ability to produce human-like writing in response to user requests, ChatGPT has been hailed as a significant development in the field of artificial intelligence.

The platform's prominence has contributed greatly to an atmosphere of enthusiasm around AI ventures, driving large investments into the area. Startups like Inflection and Anthropic have recently gotten a lot of money as well.

The addition of voice and image capabilities to ChatGPT was revealed by OpenAI this week, adding to the buzz surrounding AI. These functionalities are anticipated to be incorporated into mobile operating systems like Apple's iOS and Google's Android in the upcoming weeks after initially becoming available to ChatGPT Plus and Enterprise users.

Users could, for instance, take a picture of the contents of their refrigerator to get suggestions for meals or a picture of their child's math assignment to get help with problem-solving.

Microsoft has already made significant investments in OpenAI, escalating the competition in AI between major international IT companies. According to AFP, businesses like Google, Meta, and Microsoft are eager to take use of the potential of generative AI while also navigating the hazards, such as the technology being used improperly to spread false information or commit cybercrime.