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Investing.com-- OpenAI is in early talks for a potential secondary share sale valuing the artificial intelligence startup at $500 billion, Bloomberg reported on Wednesday, citing people briefed on investment discussions.
The $500 billion valuation marks a sharp jump from an earlier report pegging OpenAI at a $300 billion valuation.
OpenAI will look at setting up a secondary share sale for current and former employees, the Bloomberg report said.
Wednesday’s report comes just days after the AI major said it is set to hit 700 million weekly active users for its flagship ChatGPT this week, up from about 500 million users in March.
The company had last week secured $8.3 billion in new funding from a slew of major investors, as part of a SoftBank-led $40 billion fundraising round.
Still, other reports said OpenAI and Softbank (OTC:SFTBY) were struggling to get their Stargate project off the ground. The company’s cash burn is also expected to increase further in 2025.