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OpenAI staff looking to sell $6 billion in stock to SoftBank, others: Reuters
OpenAI employees plan to sell $6 billion in shares amid a valuation surge to $500 billion, reflecting rapid growth and investor interest in the AI firm’s expanding market.
- On Friday, OpenAI staffers plan to sell around $6 billion in shares to investors including SoftBank Group, Dragoneer Investment Group and Thrive Capital, valuing the company at roughly $500 billion.
- Since late 2022, OpenAI's valuation has surged after launching ChatGPT and securing a $40 billion funding round in March at a $300 billion valuation, with an additional $8.3 billion raised earlier this month.
- OpenAI doubled its revenue to a $12 billion run rate in the first seven months, and CEO Sam Altman wrote, `We for sure underestimated how much some of the things that people like in GPT-4o matter to them`.
- The proposed sale would allow employees with at least two years of service to monetize a portion of their equity, but negotiations remain in early stages and figures may change.
- This move could cement OpenAI's lead while raising questions about innovation, ethics and economic stability, if finalized, representing one of the largest employee-led secondary sales in the tech sector.
24 Articles
24 Articles
OpenAI staffers to sell $6 billion in stock to SoftBank, other investors
Current and former OpenAI employees plan to sell approximately $6 billion worth of shares to an investor group that includes Thrive Capital, SoftBank Group Corp. and Dragoneer Investment Group, in a deal that values the ChatGPT maker at $500 billion, according to people familiar with the matter. The talks are early and the size of the share sale could still change, said the people, who asked not to be identified discussing private information. T…
OpenAI’s Massive Valuation Jump Draws Scrutiny as Employee Stock Sale Looms
(Substack)—Current and former OpenAI employees are gearing up to offload around $6 billion in shares through a secondary sale that could peg the company’s worth at about $500 billion, according to recent reports. Investors like SoftBank, Dragoneer Investment Group, and Thrive Capital— all prior backers of the AI firm— stand ready to buy in, with negotiations still in their preliminary phase and subject to shifts. This move marks another leap for…
OpenAI staff looking to sell $6 billion in stock to SoftBank, others, source says
Current and former employees of OpenAI are looking to sell nearly $6 billion worth of the ChatGPT maker’s shares to investors including SoftBank Group and Thrive Capital, a source familiar with the matter told Reuters on Friday.Read MoreThe post OpenAI staff looking to sell $6 billion in stock to SoftBank, others, source says first appeared on The Who Dat Daily.
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