OpenAI gets a valuation of $500 billion after selling shares to SoftBank and others

OpenAI, the business behind ChatGPT, was valued at $500 billion after current and former workers sold shares worth around $6.6 billion, a source familiar with the situation told Reuters on Thursday.

This is an increase from its current valuation of $300 billion, highlighting OpenAI’s tremendous growth in users and revenue. Reuters reported on the stock transaction in early August.

According to the source, OpenAI staff sold shares to a consortium of investors that included Thrive Capital, SoftBank, Dragoneer Investment Group, Abu Dhabi’s MGX, and T. Rowe Price.

The corporation had authorized the selling of shares worth more than $10 billion on the secondary market.