OpenAI employees are preparing to sell approximately $6 billion of their shares in a secondary transaction. This deal could value the company at around $500 billion, a significant increase from its previous valuation of $300 billion. Investors such as SoftBank, Thrive Capital, and Dragoneer Investment Group are reportedly involved in the discussions.
The potential share sale offers employees an opportunity to gain liquidity amidst an intense competition for AI talent. Tech companies are aggressively recruiting AI experts, offering substantial compensation packages. OpenAI's move aims to retain its staff by allowing them to benefit from the company's growing valuation.
If the deal finalises, it would rank OpenAI as the most valuable startup globally, exceeding SpaceX. The company projects revenues of approximately $13 billion in 2025, tripling its 2024 earnings. This secondary sale follows SoftBank's commitment to lead a $40 billion primary funding round for OpenAI.
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