OpenAI, the company behind ChatGPT, has reached a valuation of $500 billion, following a deal in which current and former employees sold roughly $6.6 billion worth of shares, a source familiar with the matter told Reuters on Thursday.

This represents a bump-up from its current valuation of $300 billion , underscoring OpenAI’s rapid gains in both users and revenue.

Reuters reported details of the stock sale earlier in August.

OpenAI has reached a valuation of $500 billion, following a deal in which current and former employees sold roughly $6.6 billion worth of shares. Above, CEO Sam Altman with South Korean President Lee Jae Myung in Seoul. YONHAP/AFP via Getty Images

As part of the deal, OpenAI employees sold shares to a consortium of investors including Thrive Capital, SoftBank, D

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