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The deal values OpenAI at $852 billion and follows the company's confidential IPO filing with the SEC in June
Photo by Tomohiro Ohsumi / Getty Images
OpenAI completed a $7 billion secondary share sale on Monday, allowing current and former employees to sell OpenAI stock at the company's $852 billion valuation ahead of a potential public offering, according to CNBC.
The tender offer dates back to OpenAI's $122 billion funding round that closed in March, CNBC confirmed. The deal gives employees an opportunity to convert a portion of their holdings into cash before the company goes public.
