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Business May 11, 2026

OpenAI mints hundreds of overnight millionaires as staff cash out $6.6bn in share sale

OpenAI mints hundreds of overnight millionaires as staff cash out $6.6bn in share sale
OpenAI has agreed a multibillion-dollar partnership with Advanced Micro Devices (AMD) to secure massive computing power for its next generation of artificial intelligence models — a direct challenge to Nvidia’s dominant position in the global AI chip market.

Roughly 600 staff at OpenAI have walked away with an average of $11 million (£8 million) apiece after cashing out a combined $6.6 billion (£4.8 billion) in shares, in one of the largest single transfers of employee wealth that Silicon Valley has produced.

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