OpenAI 500 Billion Valuation Sought Via 6 Billion Employee Stock Sale

OpenAI is reportedly moving forward with a secondary market stock sale that could value the company at $500 billion, making it the most valuable private technology firm in the world. According to recent reports, the deal involves current and former employees selling approximately $6 billion worth of stock to an investor group that includes SoftBank, Thrive Capital, and Dragoneer Investment Group [2]. Unlike an initial public offering, the secondary sale allows employees to access liquidity without the company going public [1].

This valuation, if finalized, would place OpenAI ahead of other major private tech firms and surpass Elon Musk’s SpaceX in market value [3]. The company has already secured $8.3 billion in new funding at a $300 billion valuation in early August 2025 [2], and it is projected to raise a total of $40 billion in 2025, with the latest rounds reportedly five times oversubscribed [1]. The aggressive capital-raising strategy reflects the company’s broader ambitions and the growing interest in AI infrastructure and innovation.

Sam Altman, OpenAI’s CEO, has publicly expressed concerns about an AI market bubble, drawing comparisons to the dotcom era. Despite his warnings, Altman has also indicated a firm stance on pursuing OpenAI’s path, stating, “We’ll just be like, ‘You know what? Let us do our thing’” [1]. This reflects the broader tension within the AI industry, where caution often coexists with substantial investment and rapid scaling.

OpenAI’s strategy is not unique. Competitors such as Microsoft and Meta are also making massive investments in AI, with Microsoft planning to spend $80 billion and Meta projecting up to $72 billion in AI-related expenses for the fiscal year [1]. The sector is experiencing a significant influx of capital, with infrastructure and research at the core of growth.

However, the optimism is not without skepticism. The recent release of GPT-5 has been met with mixed reactions, with some users questioning the extent of the improvements and whether the current valuation and spending reflect genuine progress or market hype [1]. These concerns highlight the ongoing debate about the sustainability of the AI boom.

Despite these uncertainties, Wall Street remains bullish. Analysts like Dan Ives from Wedbush argue that the AI infrastructure boom is a sign of the industry’s long-term potential, describing it as “the second inning of a nine-inning game” [1]. This view contrasts with the cautionary stance of Altman and others, but it underscores the broader market’s belief in AI’s transformative power.

As OpenAI moves forward with its $6 billion employee stock sale, its next steps will be closely watched by investors, analysts, and competitors. The company’s ability to manage rapid growth, maintain its technological edge, and deliver on its promises will be critical in determining its future success. The balance between ambition and caution will remain a defining challenge in the high-stakes world of AI.

Source:

[1] Sam Altman’s AI paradox: Warning of a bubble while raising trillions (https://fortune.com/2025/08/19/sam-altmans-open-ai-paradox-warning-of-ai-bubble-while-raising-trillions/)

[2] OpenAI Employee Stock Sale Would Value ChatGPT (https://www.nytimes.com/2025/08/19/technology/openai-chatgpt-stock-sale-valuation.html)

[3] OpenAI's $6B employee stock sale could push valuation to (https://techfundingnews.com/openai-6b-stock-sale-500b-valuation-surpasses-spacex/)