OpenAI sold shares worth 6.6 billion dollars from current and former employees, according to Bloomberg. This transaction raised its valuation to a total of 500 billion dollars, a record for a private company.
The buyers include SoftBank, Dragoneer Investment Group, Thrive Capital, MGX, and T. Rowe Price. The sale did not provide capital for the company, but instead benefited individuals who held shares or options.
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A strategy to retain talent
The sale also serves as a retention tool against competition. This year, Meta recruited at least seven key OpenAI engineers, offering million-dollar bonuses to attract them.
The company had completed in August a 40 billion dollar funding round with a valuation of 300 billion.
Investors such as SoftBank, Thrive, T. Rowe Price, and Dragoneer participated, along with private equity funds and venture capital firms.
Sam Altman, CEO de OpenAI, anunció una gran donación al Comité de Inauguración de Donald Trump en adición a su gran apoyo presentado al presidente electo
Investment and expansion plans
OpenAI plans to invest 300 billion dollars in Oracle Cloud Services over the next five years, an amount that far exceeds its current revenues. Nvidia, meanwhile, announced a 100 billion dollar investment plan as part of a strategic infrastructure partnership.
The sale also comes after a non-binding agreement with Microsoft, which could allow OpenAI to convert into a for-profit entity.
