OpenAI wraps $6.6 billion share sale at $500 billion valuation

OpenAI wraps .6 billion share sale at 0 billion valuation


Sam Altman, chief executive officer of OpenAI Inc., during a media tour of the Stargate AI data center in Abilene, Texas, US, on Tuesday, Sept. 23, 2025.

Kyle Grillot | Bloomberg | Getty Images

OpenAI has finalized a secondary share sale totaling $6.6 billion, allowing current and former employees to sell stock at a record $500 billion valuation, according to a person familiar with the transaction.

Bloomberg was first to report that the deal had closed.

CNBC reported in August that OpenAI was looking to conduct a secondary share sale at a valuation of $500 billion, with investors including Thrive Capital, SoftBank, Dragoneer Investment Group, Abu Dhabi’s MGX, and T. Rowe Price.

While OpenAI had authorized up to $10.3 billion in shares for sale — an increase from the original $6 billion target — only about two-thirds of that amount ultimately changed hands.

The person briefed on internal discussions said that lower participation is being viewed internally as a vote of confidence in the company’s long-term prospects, and a sign that investor appetite remains strong, even at a $500 billion valuation — up sharply from $300 billion earlier this year.

The offer was presented to eligible current and former employees in early September, with participation open to those who had held shares for more than two years.

The share sale marks OpenAI’s second major tender offer in less than a year, following a $1.5 billion deal with SoftBank in November.

This latest transaction cements OpenAI’s status as the world’s most valuable privately held company, surpassing SpaceX’s valuation of $456 billion.

The sale also comes amid intensifying competition for AI talent. Meta, in particular, has reportedly offered nine-figure compensation packages in a bid to recruit top researchers.

OpenAI is among a growing cohort of high-profile startups — including SpaceX, Stripe, and Databricks — using secondary sales that allow employees to cash out while staying private. The move is widely seen as a strategy to retain talent and reward long-term employees without pursuing an IPO.

WATCH: OpenAI’s $850 billion buildout contends with grid limits

OpenAI’s $850 billion buildout contends with grid limits



Source

AI chipmaker Cerebras withdraws IPO
Technology

AI chipmaker Cerebras withdraws IPO

Artificial intelligence chipmaker Cerebras said on Friday that it’s withdrawing plans for an IPO, days after raising over $1 billion in a fundraising round. In a filing with the SEC, Cerebras said it does not intend to conduct a proposed offering “at this time,” but didn’t provide a reason. A spokesperson told CNBC on Friday […]

Read More
Amazon shutters 4 Fresh stores in Southern California as grocery strategy keeps shifting
Technology

Amazon shutters 4 Fresh stores in Southern California as grocery strategy keeps shifting

An employee arranges a salad dressing display at an Amazon Fresh grocery store on December 12, 2024 in Federal Way, Washington. David Ryder | Getty Images Amazon is closing four more Fresh supermarkets in Southern California as the e-commerce giant continues to focus its grocery strategy around Whole Foods and delivery. The closures will take […]

Read More
Quantum stocks Rigetti Computing and D-Wave surged double-digits this week. Here’s what’s driving the big move
Technology

Quantum stocks Rigetti Computing and D-Wave surged double-digits this week. Here’s what’s driving the big move

Inside Google’s quantum computing lab in Santa Barbara, California. CNBC Quantum computing stocks are wrapping up a big week of double-digit gains. Shares of Rigetti Computing, D-Wave Quantum and Quantum Computing have surged more than 20%. Rigetti and D-Wave Quantum have more than doubled and tripled, respectively, since the start of the year. Arqit Quantum […]

Read More