Tech
OpenAI now worth $500 billion, possibly making it the world’s most valuable startup
OpenAI could now be the world’s most valuable startup, ahead of Elon Musk’s SpaceX and TikTok’s parent company ByteDance, after a secondary stock sale designed to retain employees at the ChatGPT maker.
Current and former OpenAI employees sold $6.6 billion in shares to a group of investors, pushing the privately held artificial intelligence company’s valuation to $500 billion, according to a source with knowledge of the deal who was not authorized to discuss it publicly.
The investors buying the shares included Thrive Capital, Dragoneer Investment Group and T. Rowe Price, along with Japanese tech giant SoftBank and the United Arab Emirates’ MGX, the source said Thursday.
The valuation reflects high expectations for the future of AI technology and continues OpenAI’s remarkable trajectory from its start as a nonprofit research lab in 2015.
But with the San Francisco-based company not yet turning a profit, it could also amplify concerns about an AI bubble if the generative AI products made by OpenAI and its competitors don’t meet the expectations of investors pouring billions of dollars into research and development.
OpenAI CEO Sam Altman has sought to dismiss those concerns, most recently last week, when he toured a massive data center complex being built to run the company’s AI systems in Abilene, Texas.
“Between the ten years we’ve already been operating and the many decades ahead of us, there will be booms and busts,” Altman said after being asked about a bubble. “People will overinvest and lose money, and underinvest and lose a lot of revenue.”
He added that “we’ll make some dumb capital allocations” and there will be short-term ups and downs but that “over the arc that we have to plan over, we are confident that this technology will drive a new wave of unprecedented economic growth,” along with scientific breakthroughs, improvements to quality of life and “new ways to express creativity.”

Just this week, the company launched two different business ventures, one a partnership with Etsy and Shopify for online shopping through ChatGPT and another a social media app, Sora, for generating and sharing AI videos.
OpenAI has been struggling to offer investors and staff the same perks and compensation as the publicly traded tech giants with which it competes. Facebook parent Meta Platforms, in particular, has been on a hiring spree for elite AI engineers and in June made a $14.3 billion investment in AI company Scale that recruited its CEO Alexandr Wang.
OpenAI’s for-profit subsidiary, valued at $500 billion, is technically controlled by the board of OpenAI’s nonprofit and both are still bound to pursue the nonprofit’s charitable purpose.
OpenAI’s partnerships with major companies and its plans to change its corporate structure have drawn the scrutiny of regulators, including the attorneys general of California and Delaware, who oversee charitable organizations that operate or are incorporated in their states.
The company has made big deals in recent weeks with Oracle and SoftBank, its partners on a data center venture called Stargate, and with chipmaker Nvidia, which makes the specialized AI chips those data centers need. At the same time, it has lessened its reliance on longtime backer Microsoft.
In September, OpenAI announced it had reached a tentative agreement with Microsoft about the future stake of its nonprofit in its for-profit corporation but released few details.
It also opened applications for nonprofits to apply for $50 million in funding from OpenAI, an effort it launched in response to the recommendations of an advisory board. The grants will go toward projects that increase public understanding of AI, support the design of AI for uses that communities want and increase economic opportunity. The deadline to apply closes on Oct. 8.
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Tech
L.L.Bean Promo Codes and Coupons: Up to 75% Off
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Tech
What Is That Mysterious Metallic Device US Chief Design Officer Joe Gebbia Is Using?
Joe Gebbia, cofounder of Airbnb and the US Chief Design Officer appointed by Trump, was spotted in San Francisco today using a mysterious metallic device. In a social media post on X viewed over 500,000 times, a man who looks like Gebbia sits with an espresso at a coffee shop. He’s wearing metallic buds that bisect his ears, with a matching clamshell-shaped disc in front of him on the counter.
After the video was posted Monday morning, social media users were quick to suggest that this could be some kind of prototype from OpenAI’s upcoming line of hardware devices designed in partnership with famed Apple designer Jony Ive. An OpenAI spokesperson declined to comment on the potential Gebbia video after WIRED reached out. Gebbia also did not respond to a request for comment.
The device Gebbia appears to be wearing looks quite similar to the hardware seen in a fake OpenAI ad that was widely circulated on Reddit and social media in February. That video from last month seemingly showed Pillion actor Alexander Skarsgård interacting with an AI device that had a similar-looking pair of earbuds and a circular disc. At the time, OpenAI denounced the widely seen video as not real. “Fake news,” wrote OpenAI President Greg Brockman at the time, responding to a social media post.
The earbuds seen in the video of Gebbia also look quite similar in shape to the Huawei FreeClip 2, a pair of open earbuds released earlier this year. However, the clamshell seen on the coffee counter next to Gebbia is different from Huawei’s most recent headphone case. It would also be quite surprising if a government official were seen using Huawei tech, considering the Chinese company is effectively banned from selling its phones in the US due to security concerns.
WIRED’s audio experts say he’s most likely wearing open earbuds, as Gebbia’s pair share some similarities with Soundcore’s AeroClips or Sony’s LinkBuds Clip, though the cases for those buds don’t match what’s on the table in front of Gebbia. WIRED also ran the photo and video through software that attempts to identify AI-generated outputs and other deepfakes. The detection software, from a company called Hive, says the odds are low that this imagery of Gebbia was generated by AI. Still, AI detectors are not always reliable and can include false outputs. It’s possible that the entire post could be a synthetic hoax.
Could this be some kind of soft launch teaser for OpenAI’s hardware? The timing of this trickle out would make sense, since the company may ship devices to consumers sometime early in 2027. Still, OpenAI denied any involvement with the previous pseudo-ad for the metallic AI hardware, with its shiny earbuds and matching disc.
Tech
The ‘European’ Jolla Phone Is an Anti-Big-Tech Smartphone
“There are Chinese components as well—we are totally open about it—but the key is that as we compile the software ourselves and install it in Finland, we protect the integrity of the product,” Pienimäki says.
What makes Sailfish OS unique over competitors like GrapheneOS or e/OS is that it’s not based on the Android Open Source Project, but Linux. That means it has no ties to Google—no need for the company to “deGoogle” the software; meaning there’s a greater sense of sovereignty over the software (and now the hardware). Still, it’s able to run Android apps, though the implementation isn’t perfect. Another common criticism is that it’s not as secure as options like GrapheneOS, where every app is sandboxed.
There’s a good chance some Android apps on Sailfish OS will run into issues, which is why in the startup wizard, the phone will ask if you want to install services like MicroG—open source software that can run Google services on devices that don’t have the Google Play Store, making it an easier on-ramp for folks coming from traditional smartphones without a technical background. You don’t even need to create a Sailfish OS account to use the Jolla Phone.
Jolla’s effort is hardly the first to push the anti-Big Tech narrative. A wave of other hardware and software companies offer a “deGoogled” experience, whether that’s Murena from France and its e/OS privacy-friendly operating system, or the Canadian GrapheneOS, which just announced a partnership with Motorola. At CES earlier this year, the Swiss company Punkt also teamed up with ApostrophyOS to deploy its software on the new MC03 smartphone. Jolla is following a broader European trend of reducing reliance on US companies, like how French officials ditched Zoom for French-made video conference software earlier this year.
The Phone
A common problem with these niche smartphones is that they inevitably end up costing a lot of money for the specs. Take the Light Phone III, for example, a fairly low-tech anti-smartphone that doesn’t enjoy the benefits of economies of scale, resulting in an outlandish $699 price. The Jolla Phone is in a similar boat, though the specs-to-value ratio is a little more respectable.
It’s powered by a midrange MediaTek Dimensity 7100 5G chip with 8 GB of RAM, 256 GB of storage, plus a microSD card slot and dual-SIM tray. There’s a 6.36-inch 1080p AMOLED screen, the two main cameras, and a 32-megapixel selfie shooter. The 5,500-mAh battery cell is fairly large considering the phone’s size, though the phone’s connectivity is a little dated, stuck with Wi-Fi 6 and Bluetooth 5.4.
Uniquely, the Jolla Phone brings back “The Other Half” functional rear covers from the original. These swappable back covers have pogo pins that interface with the phone, allowing people to create unique accessories like a second display on the back of the phone or even a keyboard attachment. There’s an Innovation Program where the community can cocreate functional covers together and 3D print them. And yes, a removable rear cover means the Jolla Phone’s battery is user-replaceable.
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