AI Powerhouse Soars: OpenAI's Valuation Rockets to $500 Billion, Overtaking SpaceX

Published 2 months ago• 1 minute read

David Isong

AI Powerhouse Soars: OpenAI's Valuation Rockets to $500 Billion, Overtaking SpaceX

ChatGPT creator OpenAI has reportedly achieved a staggering valuation of $500 billion, a significant milestone that positions the artificial intelligence leader ahead of Elon Musk's aerospace company, SpaceX. This substantial valuation was disclosed in a report on Thursday, citing sources familiar with the matter.

According to Reuters, which quoted these sources, the $500 billion valuation was solidified following a major transaction. This deal involved current and former OpenAI employees, who collectively sold approximately $6.6 billion worth of their shares. This employee share sale mechanism appears to be a key factor in establishing the company's new, higher market appraisal.

The report also noted that this is a developing story, indicating potential further updates regarding OpenAI's financial landscape and market position.