OpenAI Hits $500B Valuation, Surpassing SpaceX and Crypto Giants

OpenAI has officially become the world’s most valuable startup after a new secondary share sale pushed its valuation to $500 billion. The milestone marks a historic moment for artificial intelligence and sets a new benchmark in the tech industry. 

The deal also shines a light on how AI and blockchain are increasingly linked as part of the world’s digital infrastructure.

According to Bloomberg, which cited anonymous sources, OpenAI employees and former staff sold $6.6 billion worth of shares to a group of investors. 

The buyers included Thrive Capital, SoftBank Group Corp., Dragoneer Investment Group, Abu Dhabi’s MGX, and T. Rowe Price.

This latest deal boosted OpenAI’s valuation to $500 billion, putting it ahead of Elon Musk’s rocket company SpaceX, which has an estimated market cap of about $400 billion. 

It also surpassed ByteDance, the Chinese parent of TikTok, which is valued at $220 billion, and Anthropic, another AI startup, which is worth about $183 billion.

“The investment round boosted OpenAI’s valuation to $500 billion, leapfrogging Elon Musk’s startup SpaceX,” Bloomberg noted in its report.

The sheer scale of the valuation shows just how much investors believe in AI’s future. Artificial intelligence is seen as a key technology that could reshape industries ranging from healthcare to finance. The growing overlap with blockchain and crypto also makes the comparison between these sectors inevitable.

When measured against the crypto industry, the difference is striking. Coinbase, the largest public crypto exchange, currently has a market cap of around $89 billion, according to Google Finance. Other leading companies such as Ripple, Circle, and Binance have not yet crossed the $100 billion mark.

Still, there is one company in crypto that some analysts believe could rival OpenAI’s valuation: Tether. On June 7, Artemis CEO, Jon Ma said, “If Tether were to go public, it would have a valuation of $515 billion, making it the 19th-largest public company.”

Tether’s CEO, Paolo Ardoino, responded to that claim, saying the $515 billion figure was a “beautiful number,” but he considered it “a bit bearish” given the company’s holdings in Bitcoin and gold. He also added that there was “no need” for Tether to go public at this stage.

How Stablecoins and AI Are Starting to Overlap

Both AI and stablecoins are becoming central to the development of digital infrastructure. Some experts believe these two areas will become even more connected in the years ahead.

Galaxy Digital CEO, Mike Novogratz, has been one of the most vocal on this point. On September 3, he predicted, “AI agents will be the biggest users of stablecoins.”

That prediction already seems to be playing out. Analysts at CEX.io Research reported that more than 70% of stablecoin transactions in the third quarter of 2025 were linked to bot activity. This suggests that automated systems, likely driven by AI, are already using stablecoins at a large scale.

Novogratz’s firm has also been active in the AI space. On August 15, Galaxy Digital secured a $1.4 billion loan to speed up work on its Helios AI datacenter in Texas. 

The company expects the facility to generate more than $1 billion annually by providing infrastructure for CoreWeave’s AI and high-performance computing projects.

Still, there are concerns about the sustainability of AI growth. Greg Osuri, the founder of Akash, warned that the energy demands of AI will soon push current energy systems to their limits. 

Speaking at Token2049 in Singapore, Osuri said, “AI may soon need nuclear power to sustain training models.” He also suggested that decentralized AI training could offer more sustainable options.

These comments highlight the challenges ahead as both AI and blockchain grow. The demand for power, the need for regulation, and the race to build infrastructure will all play a key role in how these industries expand.

Tether Expands in the U.S. With New Token

While OpenAI makes headlines with its valuation, Tether has been building its presence in the U.S. market. The company recently announced a new token, called USAT, that will be promoted through Rumble, a video-sharing platform that competes with YouTube.

It’s CEO, Paolo Ardoino revealed in an interview with Bloomberg that USAT will follow U.S. regulations and be integrated into a new crypto wallet developed by Rumble. The wallet is expected to support USAT, other stablecoins, and tokenized assets such as gold. Tether has described the wallet as “the centerpiece” of its strategy to expand in digital assets.

This partnership is possible in part because Tether already owns 48% of Rumble. The stake came after a $775 million investment in 2024. That gives Tether significant influence over how the platform introduces new financial products to its audience.

Rumble CEO, Chris Pavlovsky, welcomed the partnership, saying, “Rumble represents freedom of speech, while Tether and the decentralized internet embody true financial freedom.”

Tether has also been strengthening its reserves. At the end of the third quarter of 2025, the company purchased $1 billion worth of Bitcoin. In addition, it holds more than $120 billion in U.S. Treasuries, making it one of the largest holders globally.

Meanwhile, Rumble continues to grow its revenue. The platform reported second-quarter 2025 revenue of $25.1 million, which was a 12% increase compared to the same time last year. 

Although its monthly active users dropped to 51 million, average revenue per user rose by 24%, driven by more subscriptions and licensing deals.

Together, these moves show that Tether is positioning itself as more than just a stablecoin issuer. By tying its products to a large content platform and expanding its reserves, the company is laying the foundation for greater influence in the digital economy.