OpenAI has struck a deal that will allow its employees to sell some of its shares at a valuation of $500 billion, Bloomberg reports. This makes the ChatGPT owner the world’s most valuable company.
Current and former OpenAI employees have sold $6.6 billion in shares to investors, including Thrive Capital, SoftBank Group, Dragoneer Investment Group, Abu Dhabi-based MGX, and T. Rowe Price, according to the sources.
The company was valued at $300 billion at the start of the year after a SoftBank-led round. The rapid growth is a sign of the investment frenzy surrounding artificial intelligence, which has the potential to fundamentally change the economy.