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The Independent UK

National

Matt O'Brien

OpenAI now worth $500 billion, possibly making it the world's most valuable startup

OpenAI Elon Musk Donald Trump ByteDance ChatGPT SpaceX TikTok Sam Altman Microsoft SoftBank

OpenAI - (Copyright 2023 The Associated Press. All rights reserved)

OpenAI could now be the world's most valuable startup, ahead of Elon Musk's SpaceX and TikTok's parent company ByteDance, after a secondary stock sale designed to retain employees at the ChatGPT maker.

Current and former OpenAI employees sold $6.6 billion in shares to a group of investors, pushing the privately held artificial intelligence company's valuation to $500 billion, according to a source with knowledge of the deal who was not authorized to discuss it publicly.

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