ChatGPT maker OpenAI’s valuation has surged to $500 billion after employees and former staff cashed out $6.6 billion worth of shares in a secondary sale, a source familiar with the deal told Reuters. With this valuation, the AI giant has left behind SpaceX and ByteDance. The transaction lifts the artificial intelligence company’s value from $300 billion and highlights its rapid growth in both users and revenue. The shares were purchased by investors including Thrive Capital, SoftBank, Dragoneer Investment Group, Abu Dhabi’s MGX and T Rowe Price, the source told Reuters. OpenAI had cleared sales of more than $10 billion of stock on the secondary market, the source added. SoftBank’s participation adds to its earlier investment in OpenAI’s $40 billion primary funding round. Revenue

See Full Page