OpenAI is exploring a stock sale to value the company at $500 billion, up from $300 billion. The sale would allow employees to cash out billions before a potential IPO. With ChatGPT driving revenue to $12 billion annually, OpenAI has seen a surge in users to 700 million weekly active users.

SoftBank aims to fund $22.5 billion of OpenAI’s $40 billion round, already subscribed at a $300 billion valuation. Tech giants like Meta are aggressively pursuing AI talent, investing billions to poach executives. Unlisted firms are also using private share sales to update valuations and reward employees.

Thrive Capital and other existing investors in OpenAI are discussing participation in the employee share sale. OpenAI plans to restructure towards an IPO, but CFO Sarah Friar stated it would only happen when the company and markets are prepared. Stay tuned for updates on this evolving story.

Read more at Yahoo Finance: OpenAI eyes $500 billion valuation in potential employee share sale, source says