OpenAI is now the world's most valuable private company at $500 billion

1 month ago 4

OpenAI has overtaken SpaceX as the largest startup and most valuable private company in the world. Bloomberg has reported that the company has authorized a secondary share sale, which allowed its former and current employees to sell their stocks. OpenAI had authorized the sale of $10.3 billion in shares, but they ultimately sold $6.6 billion to investors that include Softbank, Abu Dhabi government's MGX fund, American investment firm Thrive Capital and global investment management firm T. Rowe Price. As Bloomberg explains, that has boosted the company's valuation to $500 billion from $300 billion, overtaking SpaceX with a $400 billion valuation and TikTok developer ByteDance at $220 billion.

In early Septemb...

Source: https://www.engadget.com/ai/openai-is-now-the-worlds-most-valuable-private-company-at-500-billion-133028221.html?src=rss

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