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The size of the secondary offering has been increased to $10 billion by adding an additional $4 billion. Through this deal, investment firms like SoftBank, T. Rowe Price, and Abu Dhabi’s MGX will have the opportunity to purchase these shares. Additionally, employees who have held their shares for more than two years will be allowed to sell them.
The news of OpenAI’s secondary share sale follows Altman’s comments that AI might be a bubble. This was after artificial intelligence stocks, particularly NVIDIA Corporation’s GPU designs, had caused market fluctuations due to their rapid rise in value as investors bet on substantial AI spending by businesses in the coming years and decades.
In discussing bubbles, Altman noted that “smart people get overexcited about a kernel of truth.” He added, “Are we in a phase where investors as a whole are overexcited about AI? My opinion is yes. Is AI the most important thing to happen in a very long time? My opinion is also yes,” according to The Verge.
These comments were made after OpenAI’s GPT-5 models failed to impress users, casting doubt on the firm’s ability to scale its products. While OpenAI aims to sell these shares at a $500 billion valuation, its most recent funding round valued it at $300 billion. As a result, data from Crunchbase ranks it second among the most valuable unicorn startups, with Elon Musk’s SpaceX being the most valuable company through a $400 billion valuation.
