OpenAI is increasing its secondary share sale to $10.3 billion, up from an initial target of $6 billion, allowing eligible employees to sell stock at a $500 billion valuation. The opportunity is available to staff who have held shares for over two years, with a deadline at the end of September for participation. The transaction is set to close in October, with notable investors including SoftBank and T. Rowe Price.

OpenAI is exploring a potential employee share sale that could elevate its valuation to approximately $500 billion, significantly up from its current $300 billion. The company has seen substantial growth, doubling its revenue in the past seven months, largely due to the popularity of its ChatGPT product. This move comes as part of a broader strategy to retain AI talent amidst fierce competition in the tech industry.