OpenAI Raises $6.6 Billion in Secondary Share Sale, Reaches $500 Billion Valuation
Summary
OpenAI completes a $6.6 billion secondary share sale that catapults the AI giant to a staggering $500 billion valuation, making it the world's most valuable private company while allowing long-tenured employees to cash out amid intense competition for top AI talent.
Key Points
- OpenAI completes a $6.6 billion secondary share sale at a $500 billion valuation, cementing its status as the world's most valuable privately held company
- The sale falls short of the $10.3 billion authorized amount, with only eligible employees who held shares for more than two years participating in the transaction
- The move helps OpenAI retain talent amid fierce competition for AI researchers, allowing staff to cash out while the company remains private