OpenAI has completed a secondary share sale allowing current and former employees to sell about US$6.6 billion in stock, according to a source familiar with the deal.

The transaction values the ChatGPT developer at US$500 billion, making it the most valuable startup globally, ahead of SpaceX.

Investors in the deal include Thrive Capital, SoftBank, Dragoneer Investment Group, Abu Dhabi’s MGX, and T. Rowe Price.

OpenAI was previously valued at US$300 billion during a financing round led by SoftBank.

The company permitted over US$10 billion in stock for sale, but the actual amount sold was below this cap, the source said.

Secondary share sales are a common practice among large US startups to offer liquidity to employees and attract outside investors.

OpenAI has recently faced growing competition for AI talent, with Meta reportedly recruiting staff from the company and other leading labs.

🔗 Source: Bloomberg

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