OpenAI staff looking to sell $6 billion in stock to SoftBank, others: Source
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Current and former employees of OpenAI are looking to sell nearly $6 billion worth of the ChatGPT maker's shares to investors, including SoftBank Group and Thrive Capital , a source familiar with the matter told Reuters on Friday.The potential deal would value the company at $500 billion, up from $300 billion currently, underscoring both OpenAI's rapid gains in users and revenue, as well as the intense competition among artificial intelligence firms for talent.SoftBank, Thrive and Dragoneer Investment Group did not immediately respond to requests for comment. All three investment firms are existing OpenAI investors.Bloomberg News, which had earlier reported the development, said discussions are in early stages and the size of the sale could change.The secondary share sale investment adds to SoftBank's role in leading OpenAI's $40 billion primary funding round.Bolstered by its flagship product ChatGPT, OpenAI doubled its revenue in the first seven months of the year, reaching an annualized run rate of $12 billion, and is on track to reach $20 billion by the end of the year, Reuters reported earlier in August. Microsoft-backed OpenAI has about 700 million weekly active users for its ChatGPT products, a surge from about 400 million in February.
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Projections indicate a further 9% growth in 2025, led by sustained momentum across sectors like IT, BFSI (banking, financial services, insurance), and energy,' says this optimism, many employees are living in fear of an impending job loss following the recent layoffs as it would be a massive financial blow to the entire family, especially in cases where the individual is the sole breadwinner. Take Bengaluru-based Raj Verma, who, at 38, was laid off from his tech job last year. 'Being the only earning member, I struggled for a few months, but eventually managed to create another source of income and am financially secure now,' he you, too, are gripped by uncertainty, read on to know how to navigate this phase. We shall tell you about the jobs that are at risk and those likely to grow, help you identify the red flags to know if you are on thin ice, and ways you can secure your view of the US tariffs, global trade skirmishes, and the slowdown in overseas demand, the sectors that are most exposed to the international markets will be vulnerable to job losses and restructuring. These include IT services, manufacturing, textiles, automotive exports and other export-oriented businesses. 'Within these sectors, roles in mid-management, support functions, legacy technology operations, and non-core activities face the greatest risk due to automation, operational realignment, and cost-cutting measures,' says technology roles, such as manual testing, system maintenance, and basic coding are being realigned due to automation and AI-driven software development tools. With Gen AI tools entering mainstream workflows, basic content creation roles are being replaced or consolidated, while functions that involve routine or repetitive tasks will also become increasingly susceptible. Therefore, entry-level IT, back-office and data entry jobs are likely to dry up.'If consumer spending goes down, retail and hospitality are also likely to face demand shocks, while contractual and gig workers will suffer the highest insecurity,' says 33% year-on-year growth, skills related to artificial intelligence and machine learning have risen the however, that not all jobs are at risk. 'India's domestic services economy remains on an expansionary path, signalling robust job creation. Notably, the green energy sector is stepping into the spotlight as a fast-growing employment generator, while Global Capability Centres (GCCs) are scaling rapidly across the country,' says Bhimrajka.'While much of the world is focused on fears of AI-driven job losses, we're seeing clear signs of reinvention. Our data shows that 50% of India's fastest-growing roles today didn't even exist a decade ago, proof that AI is reshaping work, not erasing it,' says Ruchee Anand, Head, LinkedIn Talent and Learning Solutions, LINKEDIN TALENT AND LEARNING SOLUTIONS, INDIA:'Sectors like technology, media, retail and professional services are evolving rapidly, but the future will favour those who upskill, not stand still.'This means that the jobs becoming redundant due to automation are being replaced by new roles that require a different set of skills and you are employed in a vulnerable industry, it's best to be proactive and look for warning signs that your job is at risk. 'The most telling signs often trace back to broader strategic shifts, be it through technology adoption, changing market dynamics, or evolving business priorities. When a role stops contributing directly to core outcomes or can be easily automated, it becomes vulnerable to rationalisation,' says Bhimrajka. Here are some warning signs you should keep your eyes peeled your salary hikes been delayed or is there a temporary hiring freeze even though you are short-staffed? These may be the first signs that the company is struggling and looking for ways to cut costs. If it comes to axing employees, those in non-core functions may be the first to you been left out of projects and are finding yourself with too much free time? This may mean there is little demand for your skills or you may be considered dispensable. Is your boss avoiding communication or showing reduced interest in your role? During AI adoption phases, managers often distance themselves from positions earmarked for automation. If your company is changing strategy, as is the case with several businesses now, and your skills and performance are not aligned with its objectives, you may soon find yourself on the way a contingency corpus that is equal to 6-12 months' worth of household expenses at all times. It will sustain you if you suddenly find yourself without a your main job, try to monetise skills, hobbies or interests. Identify other sources of income like rent, tuitions or baking that can help you tide over periods of income loss. Don't forget to save and invest as the employer's group health cover, buy an independent medical plan so that there's no gap period, where you and your family are without a health cover, if you were to lose your you fear job insecurity, try to keep your debt via credit card or other loans to a minimum. Do not take fresh loans. If you lose your job, make sure to inform the lender and negotiate a rescheduling of down your discretionary expenses during times of uncertainty and boost your contingency corpus. Take your family into confidence and slash the budget to focus only on your work involves basic skills or repetitive tasks that can be easily replaced by Gen AI tools, or you fail to adapt to the new tools, skills and changes being introduced in the company, prepare to red flag is rapid changes in the organisation structure or top hierarchy, which indicates a shift in strategic direction, and an eventual replacement or staff the company experiences a drop in new business or is finding it difficult to source projects or client orders, it could result in margin pressure and subsequent cost-cutting, potentially leading to you find yourself uncertain about your job's future, proactively managing your career is crucial.'Start by upskilling in areas that have a strong market demand, such as digital technologies, data analytics or AI-related competencies,' says Sharma. This will not only increase your employability but also keep you relevant in your existing job. 'Today, 78% of recruiters prioritise skills over formal degrees, and career paths are becoming more fluid than ever,' says as you prepare for your annual appraisal, make sure you consistently document your contribution and achievements. More importantly, make sure your bosses are aware of the value you bring to the organisation, so that if it comes down to the crunch, you are not the first one to be let off.'Actively build a professional network to be able to access new opportunities when required,' says Chakravarty. This means not only keeping in touch with your former and existing colleagues, but also with external clients and vendors, mentors and industry experts. 'Since I had a good network, I found work from the very next day that I was laid off,' says Arup Choudhury, a Kolkata-based content creator who lost his job in 2023.:'In the current work climate, one should always be prepared for job loss because it can happen to anybody.'2023Content creation & digital marketingFreelancer'Keep your resume current and ready for potential job transitions as readiness can significantly reduce stress during uncertain periods,' says Sharma. Consistently explore other roles and jobs, and apply discreetly for relevant even as you maintain a contingency corpus, try to diversify your sources of income, whether it's through a YouTube channel, tuitions, consultancy (if permitted by your employer), rental income, or any other source. Keep on with your regular investments as well. Not only does this help you reach your goals faster, but it also helps you on a rainy Goa-based Misbah Quadri, it's a way of life: she juggles three different jobs to maximise her potential and increase income streams. 'I know that even if I'm 80, I will be able to use my skills to earn and sustain the lifestyle I want,' says the 35-year-old.'Even if I'm 80 years old, I can earn an income from multiple sources and have the lifestyle I want, which I cannot get with a corporate job.'2020PR executive'The most resilient professionals are those who think beyond just roles; they build identity capital. This means actively cultivating experiences, skills, and a personal brand that holds value regardless of the employer or industry,' advises Bhimrajka.
