$500B: ChatGPT developer becomes world’s most valuable startup

U.S.-based company OpenAI has become the world’s most valuable private firm, Bloomberg reports. The developer of ChatGPT is now valued at $500 billion.

The new valuation came after current and former OpenAI employees sold $6.6 billion worth of shares to investors. Among the buyers were Thrive Capital, SoftBank Group, Dragoneer Investment Group, MGX, and T. Rowe Price.

Previously, the world’s most valuable private company was Elon Musk’s space firm SpaceX, valued at $400 billion.