Employee Liquidity

OpenAI completed a $6.6 billion secondary share sale, valuing the company at $500 billion, a record for an AI firm. The sale, involving Thrive Capital, SoftBank, and others, allowed current and former employees to liquidate equity. While OpenAI authorized a larger sale, less than anticipated shares changed hands, seen as a sign of investor confidence. This follows a previous $1.5 billion deal and positions OpenAI as the most valuable private company, surpassing SpaceX. The sale aids employee retention amidst intense AI talent competition.