OpenAI, the entity behind ChatGPT, has reportedly achieved a valuation of $500 billion after a deal where current and former employees sold approximately $6.6 billion worth of shares.
Current and former OpenAI employees at the tech giant sold approximately $6.6 billion worth of stock to investors, including Thrive Capital, SoftBank Group Corp., Dragoneer Investment Group, Abu Dhabi’s MGX, and T. Rowe Price. This transaction elevated the company’s valuation beyond its earlier $300 billion mark during a SoftBank-led funding round earlier this year.
The company also reportedly approved sales of over $10 billion worth of stock on the secondary market. The share sale adds to SoftBank’s earlier investment in OpenAI’s $40 billion primary funding round.
OpenAI, led by Sam Altman, is among several companies like Nvidia Corp. spearheading a worldwide effort to establish data centers and advance artificial intelligence services, an initiative anticipated to cost trillions of dollars.
The deal surpasses OpenAI’s valuation, exceeding SpaceX’s $400 billion mark.
By CEO NA Editorial Staff