OpenAI is reportedly in preliminary talks regarding a secondary share sale that could allow current and former employees to sell a portion of their equity, potentially valuing the artificial intelligence firm at around US$500 billion, according to a source familiar with the matter.
As reported by Reuters, such a transaction would represent a significant jump from OpenAI’s current valuation of US$300 billion, highlighting the company’s rapid growth in both user base and revenue, as well as the increasing competition among AI firms to attract top talent.
The proposed deal, which would take place ahead of any initial public offering (IPO), could see several billion dollars’ worth of shares changing hands.
The source, who declined to be named due to the private nature of the talks, added that OpenAI has seen strong momentum, with its flagship product, ChatGPT, helping to double the company’s revenue in the first seven months of 2025.
The firm is now reportedly operating at an annualised revenue run rate of US$12 billion and is expected to reach US$20 billion by the end of the year.
Backed by Microsoft, OpenAI has also experienced significant user growth, with ChatGPT now attracting around 700 million weekly active users, up from approximately 400 million in February.
The employee share sale follows OpenAI’s primary funding round announced earlier this year, which aimed to raise US$40 billion, led by Japan’s SoftBank Group.
While SoftBank has until the end of the year to commit its US$22.5 billion portion, the remainder of the round has already been subscribed at a US$300 billion valuation, the source noted.
Major technology companies continue to compete intensely for AI talent.
Meta, for instance, is reportedly investing billions in Scale AI in an effort to recruit its CEO, Alexandr Wang, to lead a new super intelligence division.
Other firms, including ByteDance, Databricks, and Ramp, have turned to private share sales to update valuations and reward long-serving staff.
Thrive Capital, an existing OpenAI investor, is said to be in discussions to participate in the potential employee share sale.
Meanwhile, OpenAI is undergoing a major corporate restructuring aimed at moving away from its current capped-profit model.
This shift could lay the groundwork for a future public listing, though Chief Financial Officer Sarah Friar said in May that an IPO would only proceed when both the company and markets are ready.
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