OpenAI employees are reportedly looking to sell approximately $6 billion worth of their shares to investors, including SoftBank and Thrive Capital. This secondary sale could value the company at $500 billion, a significant increase from its current valuation of $300 billion, potentially surpassing SpaceX as the most valuable private firm.
The proposed deal highlights OpenAI's rapid growth in users and revenue, driven by its flagship product ChatGPT, and the intense competition within the AI sector. OpenAI's revenue has doubled in the first seven months of the year, reaching an annualised run rate of $12 billion, with projections aiming for $20 billion by year-end. ChatGPT boasts around 700 million weekly active users, a substantial rise from 400 million in February.
SoftBank, already a major investor in OpenAI, led a $40 billion primary funding round earlier in the year. The potential share sale would allow employees to cash out without the company going public, reflecting strong investor demand and confidence in OpenAI's future.
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