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Investing.com -- OpenAI employees are planning to sell approximately $6 billion worth of shares to an investor group in a deal that values the ChatGPT maker at $500 billion.
The investor group includes Thrive Capital, SoftBank Group Corp. and Dragoneer Investment Group, according to Bloomberg, citing people familiar with the matter.
The discussions are in early stages and the size of the share sale could still change, the sources said. This secondary share investment is separate from SoftBank’s commitment to lead OpenAI’s $40 billion funding round, which values the company at $300 billion.
The ongoing funding round has already secured $8.3 billion from a group of investors.
The secondary share sale would give OpenAI employees an opportunity to cash out amid intense competition for AI talent. Companies like Meta Platforms Inc. have been offering substantial salaries to recruit AI professionals from OpenAI and other startups. Several OpenAI employees have moved to Meta this year.
Thrive Capital, Dragoneer and SoftBank are all existing investors in OpenAI. Bloomberg reports Dragoneer and Thrive didn’t respond to requests for comment, while OpenAI and SoftBank declined to comment.
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