Launched in January, the Stargate joint venture unites OpenAI, SoftBank, and Oracle to accelerate AI infrastructure investment in the US.

OpenAI CEO Sam Altman noted this month that generative AI could be a bubble, while at the same time promising trillions of dollars of data center and compute spend.

Current and former OpenAI employees plan to sell approximately $6 billion worth of shares to an investor group that includes Thrive Capital, SoftBank Group Corp. and Dragoneer Investment Group, in a deal that values the ChatGPT maker at $500 billion.

OpenAI is set to sell $6 billion in employee shares at a $500 billion valuation, making it the world’s most valuable startup.

OpenAI employees and former staff are preparing to sell approximately $6 billion worth of shares in a secondary transaction to investors including Japan’s SoftBank Group, Thrive Capital, and Dragoneer Investment Group, as per reports.

Aug 15 (Reuters) - Current and former employees of OpenAI are looking to sell nearly $6 billion worth of the ChatGPT maker's shares to investors including SoftBank Group (9984.T) and Thrive Capital, a source familiar with the matter told Reuters on Friday.

OpenAI is preparing a secondary stock sale worth about $6 billion that would value the company near $500 billion, CNBC reported Friday. The shares would come from current and former employees and be sold to investors,

Foxconn's chairman, Young Liu, announced the company's cooperation with SoftBank in Ohio as part of OpenAI's Stargate project. In this collaboration, SoftBank will supply the venue and equipment necessary for the initiative.