OpenAI Completes Share Sale at Record $500B Valuation

OpenAI has completed a deal allowing current and former employees to sell about $6.6 billion worth of shares in the company at a $500 billion valuation, according to a person familiar with the matter.

As part of the deal, OpenAI’s employees sold stock to a group of investors including Thrive Capital, SoftBank, Dragoneer Investment Group, Abu Dhabi’s MGX and T. Rowe Price, said the person, who spoke on condition of anonymity as the information is private.