OpenAI is in early talks to conduct a secondary share sale that would value the San Francisco-based artificial-intelligence company at about $500 billion, according to multiple media reports including Reuters and CNBC. The transaction would raise its valuation by roughly two-thirds from the $300 billion level set in April and would eclipse the private-market worth of Elon Musk’s SpaceX. People familiar with the matter said the tender offer could exceed $1.5 billion and would allow current and former employees to cash out part of their holdings. Existing backers such as Thrive Capital are exploring purchases, while SoftBank—lead investor in this year’s $40 billion primary round—has also been mentioned as a potential participant. A half-trillion-dollar price tag would rank OpenAI among the world’s most valuable technology firms outside the public markets. Bolstered by its ChatGPT service, the Microsoft-backed company has doubled revenue this year to an annualized $12 billion and is on pace to reach $20 billion by December, sources said. Weekly active users on ChatGPT have climbed to roughly 700 million. The fund-raising discussions come as anticipation builds for OpenAI’s next product release. The company has scheduled a livestream for Thursday at 10 a.m. Pacific time, and newly added API assets labeled “GPT-5,” “GPT-5 Mini” and “GPT-5 Nano” have fueled expectations that Chief Executive Officer Sam Altman will unveil the next generation of the firm’s flagship model.