OpenAI is reportedly in early discussions about a potential secondary stock sale that could value the artificial intelligence pioneer at around US$500 billion, according to individuals briefed on the matter. The transaction, if completed, would represent a significant jump in the company’s valuation—up roughly two-thirds from its previous US$300 billion mark following a US$40 billion financing round led by SoftBank Group. The proposed deal would allow current and former employees to sell shares, with existing investors such as Thrive Capital expressing interest in purchasing them. Sources, who requested anonymity due to the sensitivity of the discussions, said the sale could involve several billions of dollars in equity.
Such secondary offerings are a common practice among large US start-ups, particularly those at the forefront of fast-growing industries. They serve not only to reward early employees but also to retain talent in the face of stiff competition from rival firms. In OpenAI’s case, the move comes at a crucial time, as the company has seen a number of high-profile defections from its research division to competitors such as Meta Platforms. Meta, which is building its own “superintelligence” team, has reportedly lured top talent with compensation packages reaching into the nine figures. The potential secondary sale could provide a powerful counter-incentive, offering employees liquidity that aligns with the company’s meteoric growth and market valuation.
The valuation surge follows last week’s news that OpenAI secured US$8.3 billion from a syndicate of investors for a second tranche of the previously announced US$40 billion fundraising effort. According to one source, the round was oversubscribed by a factor of five and closed ahead of schedule, highlighting investor confidence in the start-up’s trajectory. OpenAI, led by CEO Sam Altman, continues to attract enormous financial and strategic interest as it remains at the centre of the global AI race.
OpenAI’s technology leadership is also being reinforced through a series of aggressive initiatives. The company has released two openly available AI models capable of human-like reasoning, following similar moves by China’s DeepSeek. It is also preparing for the launch of GPT-5, its next-generation model, which aims to solidify its dominance in a rapidly evolving field. On the consumer front, ChatGPT usage is soaring, with the company announcing that the platform is expected to hit 700 million weekly active users this week, up from 500 million at the end of March. Daily message traffic has now crossed 3 billion.
In a notable strategic shift, OpenAI recently agreed to acquire an AI hardware start-up co-founded by former Apple designer Jony Ive in an all-stock deal worth nearly US$6.5 billion. The acquisition signals OpenAI’s intention to push beyond software into physical devices, bringing its capabilities into new user environments. Additionally, OpenAI is collaborating with SoftBank and Oracle on Project Stargate, a massive AI infrastructure effort currently under construction in Abilene, Texas.
Despite its momentum, OpenAI is navigating complex internal and external challenges. Chief among them is the ongoing renegotiation of its corporate structure and long-term partnership with Microsoft, which has invested around US$13.75 billion in the start-up. At the heart of the talks is the size of Microsoft’s stake in a restructured for-profit entity and its future access to OpenAI’s technology. The current agreement between the two companies runs through 2030, but discussions have reportedly expanded into a broader redefinition of their strategic alignment.
Neither OpenAI nor Thrive Capital has publicly commented on the secondary stock sale or the company’s latest valuation target. However, if the deal proceeds, it will cement OpenAI’s position as one of the most valuable private tech companies in the world—underscoring both the scale of investor belief in its AI leadership and the high stakes now driving the global race for artificial intelligence dominance.
