OpenAI Becomes World's Most Valuable Startup in $6.6B Share Sale
OpenAI employees and alumni have sold shares worth around $6.6 billion, boosting the company's valuation to approximately $500 billion. This secondary transaction has made OpenAI the world's most valuable startup, surpassing SpaceX.
The sale, a secondary transaction, saw no new shares issued. Instead, existing shares held by employees were sold to investors. Notable participants in this deal include Thrive Capital, SoftBank, Dragoneer Investment Group, MGX from Abu Dhabi, and T. Rowe Price. This transaction marks a significant milestone for OpenAI, pushing its valuation past that of SpaceX.
With this sale, OpenAI solidifies its position as the world's most valuable startup. The increased valuation reflects investors' confidence in the company's technology and future prospects.
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