OpenAI is reportedly raising at a $150 billion valuation — making it worth more than 88% of Fortune 500 firms

Company Overview - OpenAI is reportedly raising funds at a valuation of $150 billion, surpassing the market capitalization of over 88% of Fortune 500 firms, including Goldman Sachs, Uber, and BlackRock [1] - The startup is in discussions to raise $6.5 billion from various investors, with an additional $5 billion in debt also being sought [2] Valuation and Funding - The new valuation represents a significant increase from OpenAI's previous valuation of $86 billion, which was established when employees began selling stakes in February [2] - The funding round will be led by Thrive Capital, a venture firm known for early investments in companies like Instagram and Stripe [2] Strategic Partnerships - Microsoft, a partner since 2019, along with Apple and Nvidia, are also considering investments in OpenAI [2] Financial Utilization - The funds raised will be allocated towards computing power and other operational costs, as indicated in a memo from OpenAI's CFO [3] - OpenAI plans to allow employees to sell some of their shares in a tender offer later this year, providing liquidity for employees in a private company setting [3] Market Position - OpenAI is recognized as a leader in the AI sector, competing against well-funded rivals [2] - The company joins a select group of private firms valued significantly higher than most publicly traded companies, such as SpaceX and ByteDance [4]