Credited from: BLOOMBERG
OpenAI is in early talks for a potential secondary stock sale aimed at current and former employees, with the company being valued at approximately $500 billion, according to Reuters, South China Morning Post, and Bloomberg.
The secondary stock sale could result in billions of dollars being raised, attracting interest from existing investors such as Thrive Capital, who have expressed a desire to purchase employee shares, according to multiple sources. If successful, the valuation of OpenAI would reflect a tremendous increase from its previous $300 billion mark during a funding round led by SoftBank Group, as detailed by South China Morning Post and Reuters.
OpenAI expects to leverage this investment initiative to reward employees and retain talent in a competitive market where they have seen significant departures to firms like Meta Platforms. This move aligns with strategies many U.S. startups employ to bolster employee satisfaction and financial security, as noted by South China Morning Post.
Furthermore, OpenAI is simultaneously engaged in raising $40 billion for broadening AI research and scaling its infrastructure, signaling strong investor interest amid its rapid growth and expansion plans, according to Reuters and Bloomberg.