OpenAI's valuation has soared to $500 billion following a new round of secondary stock sales, according to Bloomberg. This valuation places OpenAI ahead of SpaceX, which is valued at approximately $400 billion, making it the world's largest startup. In this transaction, current and former OpenAI employees sold $6.6 billion worth of stock to investors such as Thrive Capital, SoftBank, and MGX.
The report highlights that OpenAI's valuation significantly exceeds that of major crypto companies like Coinbase, valued at around $89 billion, and potentially rivals stablecoin issuer Tether. Tether's valuation was estimated to reach $515 billion if it were to go public, according to Artemis' CEO in June.
OpenAI Valuation Hits $500 Billion, Surpassing SpaceX
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