OpenAI has reached an impressive $500 billion valuation, officially becoming the world’s largest startup by surpassing SpaceX, which is valued at approximately $400 billion. This news follows a significant secondary share sale where OpenAI’s current and former employees sold a total of $6.6 billion in shares to prominent investors such as Thrive Capital and SoftBank.
“The investment round boosted OpenAI’s valuation to $500 billion, leapfrogging Elon Musk’s startup SpaceX.”
At this valuation, OpenAI far exceeds other major companies in the crypto space like Coinbase, Ripple, and Circle, which have not managed to break past the $100 billion mark. Tether, a stablecoin issuer, is believed to be the nearest contender in the crypto arena.
Expanding Influence of AI in Crypto
With strong interest in both AI and blockchain technologies, some experts predict that Tether could potentially rival OpenAI’s valuation in the future. Jon Ma, CEO of Artemis, estimated that if Tether went public, it could be valued around $515 billion.
Paolo Ardoino of Tether acknowledged this figure as attractive yet noted it seemed slightly conservative considering their investments in Bitcoin and gold.
“$515 billion is a beautiful number but a bit bearish given our treasury.”
The Prominent Role of AI Agents
As the connection between AI and crypto grows, many see AI agents becoming pivotal in the use of stablecoins. Mike Novogratz remarked that they will likely emerge as the most significant users of these cryptocurrencies, supported by findings that over 70% of stablecoin transactions are linked to bot activities. Galaxy Digital, where Novogratz is at the helm, is also advancing in AI, having recently received a $1.4 billion loan for developing AI infrastructure.
Concerns Surrounding AI’s Growth
As AI technologies expand, there are rising concerns over the resource demands they impose. At the recent Token2049 in Singapore, Greg Osuri emphasized that the energy requirements for AI training could necessitate switching to nuclear energy solutions to cope with future needs.
