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Benzinga
Benzinga
Business
Eva Mathew

OpenAI Closes Share Sale At $500 Billion Valuation, Overtakes Elon Musk's SpaceX: Reports

Elon Musk OpenAI SpaceX
Paris,,France,-,August,10,,2024.,Openai,Logo,On,The

OpenAI has reportedly reached a valuation of $500 billion, overtaking Elon Musk‘s rocket company SpaceX to become the world’s largest startup.

Current and former employees of the company behind ChatGPT sold about $6.6 billion worth of shares to investors, including Softbank Group, Thrive Capital, Dragoneer Investment Group, Abu Dhabi’s MGX, and T. Rowe Price, according to media reports on Thursday.

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