Sam Altman-run OpenAI has reportedly completed a major deal allowing employees to sell their shares in the company at a USD 500 billion valuation. The development has pushed the ChatGPT maker ahead of Elon Musk’s SpaceX, making it the most valuable startup in the world. As per a report of Bloomberg, current and former OpenAI staff have sold around USD 6.6 billion worth of shares to investors like SoftBank, Abu Dhabi’s MGX, Thrive Capital, Dragoneer Investment Group, and T. Rowe Price. The transaction pushed the company’s valuation significantly higher than the USD 300 billion mark set in a SoftBank-led funding round earlier this year. OpenAI Sora 2 Launched With Sound to Take On Google Veo 3, Offers Realistic Video Generation and Major Improvements; Sora App Also Released (Watch Videos).

OpenAI Valuation Jumps to USD 500 Billion

TruLY Score by LatestLY
Rating:3

TruLY Score 3 – Believable; Needs Further Research | On a Trust Scale of 0-5 this article has scored 3 on LatestLY, this article appears believable but may need additional verification. It is based on reporting from news websites or verified journalists (Bloomberg), but lacks supporting official confirmation. Readers are advised to treat the information as credible but continue to follow up for updates or confirmations

(SocialLY brings you all the latest breaking news, fact checks and information from social media world, including Twitter (X), Instagram and Youtube. The above post contains publicly available embedded media, directly from the user's social media account and the views appearing in the social media post do not reflect the opinions of LatestLY.)