OpenAI's secondary stock offering has increased to over 10 billion, with a valuation of $500 billion

OpenAI is expanding its secondary share sale by more than $4 billion. OpenAI will offer eligible current and former employees the opportunity to sell about $10.30 billion of shares, a significant increase from the original target of $6 billion, according to a person familiar with the matter. The sale will be valued at $500 billion, in line with market expectations, the person said. OpenAI's latest funding round earlier this year valued the company at $300 billion. OpenAI announced the proposal to employees on Wednesday, the person said. Employees who have held shares for more than two years have until the end of September to decide whether to participate in the deal, which is expected to close in October. The investors include SoftBank Group, Dragoneer Investment Group and Thrive Capital.