Former and current OpenAI employees plan to sell $6 billion worth of shares, valuing the company at $500 billion.

The share sale comes amid a rapid expansion of OpenAI, which doubled revenue in the first seven months of the year to an annualized $12 billion. The Microsoft-backed company now has 700 million weekly users for ChatGPT. Negotiations are in the early stages and the size of the sale could be adjusted.