OpenAI employees plan $6 billion share sale at $500 billion valuation

OpenAI, the maker of ChatGPT, is preparing a secondary share sale worth nearly $6 billion that would value the artificial intelligence (AI) company at about $500 billion, according to media reports. The deal, which would involve current and former employees selling stock to outside investors, is still in early discussions and could change in size. The proposed transaction underscores both the rapid rise of OpenAI since launching ChatGPT in late 2022 and the fierce competition among global investors eager to gain exposure to the booming AI sector.

Thrive, SoftBank and Dragoneer in talks

The buyer group is expected to include Thrive Capital, SoftBank Group Corp. and Dragoneer Investment Group, all of which are already OpenAI investors. Thrive could lead the round, though details remain under negotiation. Representatives of the firms declined to comment. The share sale would allow OpenAI employees and alumni to cash in on part of their equity without the company going public.

Only employees with at least two years of service are eligible to participate, reports suggest. Such deals have become a crucial tool for startups battling tech giants like Meta and Google for top AI talent, offering staff financial upside while maintaining private ownership. Earlier this year, SoftBank also purchased about $1 billion worth of OpenAI employee shares at a valuation of $300 billion, before talks around the $500 billion deal began.

Valuation surge and revenue growth

The $500 billion figure would make OpenAI the most valuable startup in the world, eclipsing Elon Musk’s rocket company, SpaceX. The valuation leap comes on the back of OpenAI’s blockbuster user growth and rising revenues. The Microsoft-backed company has well over 700 million weekly active users of its ChatGPT products, up from 400 million in February. Revenues have doubled in the first seven months of 2025, with an annualised run rate of $12 billion, and are projected to hit $20 billion by year-end, according to Reuters.

OpenAI is also in the midst of a $40 billion primary funding round, led by SoftBank, which initially valued the company at $300 billion. The firm recently announced it secured $8.3 billion from investors tied to that round.

GPT-5 rollout and future plans

The share sale comes just days after OpenAI unveiled GPT-5, its most advanced AI model to date. The model is faster, smarter, and designed to be more useful across industries like healthcare, coding, and creative writing. However, its rollout has faced user pushback, with some complaining about lost access to earlier models.

CEO Sam Altman has also outlined a bold vision for the company, saying OpenAI plans to spend trillions of dollars on AI infrastructure in the coming years. “You should expect a bunch of economists to wring their hands and say, ‘This is so crazy; it’s so reckless,’” Altman told reporters this week. “And we’ll just be like, ‘You know what? Let us do our thing.’”

(With inputs from agencies)