OpenAI has finalised a deal that now values the company at $500 billion, overtaking SpaceX.
The secondary share sale allowed current and former employees to sell $6.6 billion worth of stock, a source close to OpenAI told the Financial Times.
The tech firm had previously been valued at $300 billion, following a $40 billion investment from Japan’s SoftBank Group.
Employees sold their shares to investors including Thrive Capital, SoftBank, Dragoneer Investment Group, Abu Dhabi’s MGX and T Rowe Price. OpenAI had authorised staff to sell up to $10 billion worth of stock.
Last month, chipmaker giant Nvidia announced it would invest up to $100 billion in OpenAI, in exchange for the deployment of up to 10 gigawatts of computing capacity powered by its AI chips.
