OpenAI has completed a secondary share sale totaling roughly $7 billion, letting current and former employees sell stock at the company's $852 billion valuation. The tender offer has been in the works since OpenAI closed a record $122 billion funding round in March, and it comes as the company prepares for a potential IPO.
OpenAI completed a secondary share sale totaling roughly $7 billion, CNBC confirmed Monday. The deal allows current and former employees to sell stock at the company's $852 billion valuation.
The offer has been in the works since OpenAI closed its record-breaking $122 billion funding round in March. It eases near-term liquidity pressure for staff, letting them cash in a portion of their holdings ahead of the company's potentially massive initial public offering. Bloomberg was first to report the $7 billion figure.
OpenAI rocketed into the mainstream after launching ChatGPT in 2022 and has since become one of the fastest-growing private companies. Yet the company confidentially filed its prospectus with the Securities and Exchange Commission in June and hasn't disclosed an official timeline for its debut. Rival Anthropic is in a similar position.
Secondary sales have become part of OpenAI's pre-IPO strategy. The company completed a $6.6 billion tender offer at a $500 billion valuation in October. It followed a $1.5 billion tender offer in 2024.
Source: CNBC
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