Tether is estimated to be the crypto company closest to rivaling OpenAI’s $500 billion valuation, far ahead of Coinbase, Ripple and Circle.
Artificial intelligence company OpenAI has become the world’s largest startup after reaching a $500 billion valuation in a secondary share sale.
Citing anonymous sources, Bloomberg reported on Thursday that current and former OpenAI employees sold $6.6 billion in stock to investors including Thrive Capital, SoftBank Group Corp., Dragoneer Investment Group, Abu Dhabi’s MGX and T.Rowe Price.
The investment round boosted OpenAI’s valuation to $500 billion, leapfrogging Elon Musk’s startup SpaceX, which has a market capitalization of about $400 billion. The company also dwarfed startups ByteDance and Anthropic, which are valued at $220 billion and $183 billion, respectively.
