OpenAI Employees to Sell Shares Worth Nearly $6 Billion as $500 Billion Valuation Boasts

Reuters published a blog post on August 16th, reporting that current and former OpenAI employees are planning to sell nearly $6 billion worth of shares in the company to SoftBank, Thrive Capital, and other investors, valuing the company at $500 billion after the deal is completed ($3.59 trillion at current exchange rates). Current and former OpenAI employees are planning to sell nearly $6 billion in shares of the company to investors including SoftBank Group, Thrive Capital, and Dragoneer Investment Group, with Thrive Capital expected to lead the deal, the sources said. The deal, if finalized, would jump OpenAI's valuation from its current $300 billion to $500 billion. The sale of shares is a secondary market transaction, meaning that employees and former employees will gain liquidity by selling their holdings, while investors will further deepen their investment in OpenAI. SoftBank, Thrive and Dragoneer are all existing investors in OpenAI, but have not yet responded to the rumors of a deal. According to people familiar with the matter, discussions are still in the early stages, and the final sale amount could be adjusted.