OpenAI Expands Employee Share Sale to $10.3 Billion

OpenAI has expanded its secondary share sale, allowing current and former employees to sell up to $10.3 billion worth of stock. This increase from the initially targeted $6 billion comes at a valuation of $500 billion. The opportunity is available to employees who have held shares for more than two years, with the transaction expected to close in October.
The sale is part of a strategy to provide liquidity to employees without the immediate pressure of going public. Major investors participating in the transaction include SoftBank, Dragoneer Investment Group, Thrive Capital, Abu Dhabi's MGX, and T. Rowe Price.
This move follows a previous tender offer in November, where employees sold about $1.5 billion worth of shares. The expanded sale reflects OpenAI's confidence in its market position and its strategy to maintain private company flexibility while rewarding its staff.
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