OpenAI has become the largest startup globally, achieving a valuation of $500 billion in a recent secondary share sale.
According to unnamed sources, Bloomberg reported on Thursday that current and former employees sold $6.6 billion in stock to investors such as Thrive Capital, SoftBank Group Corp., Dragoneer Investment Group, Abu Dhabi’s MGX, and T. Rowe Price.
This investment round raised OpenAI’s valuation to $500 billion, surpassing Elon Musk’s SpaceX, which is valued at around $400 billion. OpenAI also significantly outpaced other companies like ByteDance and Anthropic, valued at $220 billion and $183 billion, respectively.
The transaction highlights interest in AI and the increasing intersection of AI and blockchain, with investments flowing into these technologies, which are viewed as future cornerstones of digital infrastructure.
OpenAI and crypto companies
At a valuation of $500 billion, OpenAI significantly outstrips leading crypto firms. According to Google Finance, Coinbase, the premier publicly traded crypto exchange, has a market cap of around $89 billion.
Even leading crypto firms like Ripple, Circle, and Binance have yet to cross the $100 billion threshold.
Nevertheless, with the rise of stablecoins, Tether may be the closest crypto company to challenging OpenAI’s market valuation.
On June 7, Artemis CEO Jon Ma noted that if Tether were to go public, it could be valued at $515 billion, placing it as the 19th-largest public company.
Tether CEO Paolo Ardoino responded, suggesting that while $515 billion is an appealing figure, he considered it “a bit bearish” considering their Bitcoin and gold reserves. He also stated that there was “no necessity” for Tether to go public.
AI agents to be the biggest stablecoin users
As AI and stablecoins both contribute to enhancing digital infrastructure, some experts predict synergies between the two.
On Sept. 3, Galaxy Digital CEO Mike Novogratz asserted that AI agents would become the primary users of stablecoins.
Novogratz’s foresight may already be unfolding, with analysts recently correlating stablecoin transactions with bot activity. A report from CEX.io Research indicated that over 70% of stablecoin transactions in Q3 2025 are associated with bots.
Galaxy Digital has also been proactive in the AI sector. On Aug. 15, the firm acquired a $1.4 billion loan to expedite the development of its Texas Helios AI data center.
The company anticipates this data center will generate upwards of $1 billion annually, providing vital infrastructure for CoreWeave’s AI and high-performance computing (HPC) functions.
Related: Over 70% of stablecoin transactions in Q3 linked to bots, report finds
Growing dangers of AI development
As AI continues to evolve, Akash founder Greg Osuri has warned that its energy demands may become so significant that current energy grids may fall short.
At Token2049 in Singapore, Osuri remarked to Cointelegraph that AI could eventually require nuclear power to maintain the training of its models. He also advocated for more sustainable methodologies, such as decentralized AI training.
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