The artificial intelligence firm OpenAI has emerged as the world’s largest startup, achieving a $500 billion valuation following a secondary share sale.
According to anonymous sources, Bloomberg reported on Thursday that current and former employees of OpenAI sold $6.6 billion in stock to investors like Thrive Capital, SoftBank Group Corp, Dragoneer Investment Group, Abu Dhabi’s MGX, and T.Rowe Price.
This investment round propelled OpenAI’s valuation to $500 billion, surpassing Elon Musk’s SpaceX, which stands at around $400 billion. The company also dwarfs other startups, such as ByteDance and Anthropic, valued at $220 billion and $183 billion, respectively.
The transaction not only reflects the excitement surrounding AI but also highlights the increasing synergy between AI and blockchain, with investments flowing into technologies seen as the upcoming cornerstones of digital infrastructure.
OpenAI and crypto companies
Valued at $500 billion, OpenAI far exceeds the major players in the crypto sector. According to Google Finance, Coinbase, the largest publicly traded cryptocurrency exchange, has a market cap of about $89 billion.
Even the most promising crypto firms like Ripple, Circle, and Binance haven’t exceeded the $100 billion mark.
However, with the growing popularity of stablecoins, issuer Tether could be the closest cryptocurrency company to challenge OpenAI’s valuation.
On June 7, Artemis CEO Jon Ma asserted that if Tether were to go public, it would hold a valuation of $515 billion, positioning it as the 19th largest public company.
Tether CEO Paolo Ardoino responded to Ma, stating that while $515 billion is a “beautiful number,” he found this to be “a bit bearish” considering their Bitcoin and gold treasury. He also mentioned that there was “no need” for Tether to go public.
AI agents to be the biggest stablecoin users
As both AI and stablecoins advance in shaping digital infrastructure, synergies between them are anticipated.
On Sept. 3, Galaxy Digital CEO Mike Novogratz indicated that AI agents would emerge as the leading users of stablecoins.
Novogratz’s predictions seem to be materializing, as analysts have recently attributed stablecoin transactions to bots. On Wednesday, CEX.io Research noted that over 70% of stablecoin transactions in Q3 2025 are associated with bot activity.
Meanwhile, Novogratz’s Galaxy Digital is also making strides in the AI sector. On Aug. 15, the company obtained a $1.4 billion loan to expedite the development of its Texas Helios AI data center.
The facility is expected to generate over $1 billion annually by offering physical infrastructure for CoreWeave’s AI and high-performance computing (HPC) operations.
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 warned that its energy demands may become so significant that current energy grids will struggle to cope.
At Token2049 in Singapore, Osuri informed Cointelegraph that AI might soon require nuclear power to maintain training models.
“We’re reaching a point where AI is causing fatalities,” he remarked, advocating for more sustainable solutions such as decentralized AI training.
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