OpenAI Completes Secondary Stock Transaction
(MENAFN) OpenAI has completed a $6.6 billion secondary stock transaction, offering current and former staff the opportunity to offload their shares, according to a report from a news agency on Thursday.
This sale has propelled OpenAI’s estimated worth to an unprecedented $500 billion, a milestone that underscores its status in the private tech sector.
Back in August, investors including Thrive Capital, SoftBank, Dragoneer Investment Group, Abu Dhabi's MGX, and T. Rowe Price were involved in OpenAI’s proposed secondary share offering, which was set at a $500 billion valuation.
These high-profile backers highlighted continued confidence in the artificial intelligence company’s future.
Despite OpenAI’s original intention to sell $6 billion worth of shares, only about two-thirds of the $10.3 billion in authorized stock ended up being traded.
Still, the elevated valuation—up from $300 billion earlier in the year—was interpreted internally as a strong signal of optimism regarding the company’s future trajectory and a reflection of steady investor interest.
The opportunity to sell was extended in September to eligible current and former employees.
Those who had held shares for more than two years were granted the right to take part in the transaction.
This marks OpenAI’s second major secondary offering within a year, following a $1.5 billion deal with SoftBank in November.
With the completion of this latest deal, OpenAI has overtaken SpaceX, which holds a $456 billion valuation, making OpenAI the most valuable privately held enterprise globally.
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