artificial intelligence (AI) boom, according to a report by The Wall Street Journal on Sunday.
The report said that over 600 current and former OpenAI employees sold shares worth a combined $6.6 billion in a secondary sale conducted in October last year. The transaction valued the AI company at about $400 billion.
The share sale enabled eligible employees to cash out part of their equity holdings, with around 75 participants reportedly selling the maximum permitted amount of $30 million each.
The move reflects OpenAI’s rapidly rising valuation as competition intensifies in the global artificial intelligence sector, driven by growing enterprise adoption and investor interest in generative AI technologies.
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