OpenAI is reportedly in discussions with investors regarding a share sale that could value the company between $80 billion to $90 billion, a substantial increase from its earlier valuation this year, the Wall Street Journal reports.

The rumored valuation is fueled by expectations of substantial revenue growth, with OpenAI projecting $1 billion in revenue for the current year and even greater earnings in 2024.

Microsoft (NASDAQ:) holds a 49% ownership stake in OpenAI, and the deal being considered would allow employees to sell existing shares rather than issuing new ones.

Accordingly, OpenAI is planning to sell a few hundred million dollars worth of its existing shares to investors in Silicon Valley. Historically, venture capital firms like Sequoia Capital and Khosla Ventures have participated in OpenAI’s share purchases through tender offers.

This potential valuation would position OpenAI among the world’s most highly valued startups, behind companies like SpaceX and ByteDance.