OpenAI has completed a secondary share sale worth about $6.6 billion that values the ChatGPT-maker at $500 billion, Bloomberg reported on Thursday, citing a person familiar with the matter.
The deal makes OpenAI the world’s most valuable startup, surpassing Elon Musk’s SpaceX, which was recently valued at about $400 billion.
OpenAI firm was previously valued at $300 billion following a $40 billion funding round led by Japan’s SoftBank Group (TYO:9984), Bloomberg reported.
Current and former employees sold stock to investors, including Thrive Capital, SoftBank, Dragoneer Investment Group, Abu Dhabi’s MGX, and T. Rowe Price, the report said.
Secondary sales are commonly used by U.S. startups to provide liquidity to employees and retain talent. The sale fell short of the $10 billion-plus in stock OpenAI had made available, which the report said reflected staff confidence in the company’s long-term prospects.
Source :
https://www.investing.com/news/stock-market-news/openai-valued-at-record-500-bln-in-latest-share-sale-bloomberg-reports-4267744
