OpenAI Becomes World’s Most Valuable Private Company With $500 Billion Valuation After Employee Share Sale
OpenAI reached the $500 billion valuation in a deal which current and former employees sold roughly $6.6 billion worth of their shares.
OpenAI Becomes World’s Most Valuable Private Company With $500 Billion Valuation After Employee Share Sale
The artificial intelligence pioneer backing ChatGPT, OpenAI, has vaulted to a $500 billion valuation after a high-profile secondary share sale. This new valuation positions the company as the most valuable private company and startup in the world. The $500 billion valuation was achieved following a secondary share sale in which current and former employees sold about $6.6 billion worth of shares. In other words, the deal worth $6.6 billion in employee-held shares. The investors that bought the shares include SoftBank, Thrive Capital, Dragoneer Investment Group, Abu Dhabi’s MGX, and T. Rowe Price. This new valuation is a bump from earlier this year, when OpenAI was valued at around $300 billion after its primary funding round led by SoftBank. Meanwhile, it's important to note that unlike a traditional funding round, the deal did not inject new capital into OpenAI itself. Instead, it provided liquidity for early staff and shareholders. This shows the extraordinary investor demand to ga…
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Independent journalist covering tech, business, finance, and science | BSc Accounting student | He founded FinNG
