AI leader overtakes SpaceX while crypto firms trail far behind
OpenAI has officially become the world’s most valuable startup, hitting a $500 billion valuation in a secondary share sale, surpassing Elon Musk’s SpaceX and setting a new benchmark in global tech investment.
Record-breaking valuation in AI
According to reports, OpenAI employees and early investors sold $6.6 billion worth of shares to firms including Thrive Capital, SoftBank, Dragoneer Investment Group, Abu Dhabi’s MGX and T. Rowe Price. This pushed the company’s valuation to $500 billion, overtaking SpaceX’s estimated $400 billion market capitalization.
By comparison, other major startups like ByteDance ($220 billion) and Anthropic ($183 billion) now lag significantly behind. Analysts see this as a clear sign of investor confidence in the future of artificial intelligence.
However, stablecoin issuer Tether may be the closest rival. In June, Artemis CEO Jon Ma suggested Tether could be valued at $515 billion if it were to go public, a number that would even eclipse OpenAI. In response, Tether CEO Paolo Ardoino called the estimate “a bit bearish” and noted that the firm sees no need to go public given its strong reserves in Bitcoin and gold.
Crypto companies fall short of AI’s growth
While OpenAI continues its meteoric rise, crypto’s biggest players remain far behind in valuation. Coinbase, the largest publicly traded crypto exchange, is currently valued at around $89 billion, while Ripple, Circle and Binance have yet to surpass the $100 billion mark.
AI and stablecoins: A growing intersection
Industry experts highlight that AI and stablecoins are increasingly becoming intertwined. Mike Novogratz, CEO of Galaxy Digital, recently said, “AI agents will be the biggest users of stablecoins,” pointing to bots and automated systems as driving forces.
Data supports this trend: over 70% of stablecoin transactions in Q3 2025 were linked to bot activity, according to CEX.io Research.
Despite the enthusiasm, concerns remain about AI’s energy footprint. Greg Osuri, founder of Akash, warned at Token2049 in Singapore that AI’s energy needs may soon exceed what current grids can provide. He added that nuclear power or decentralized AI training could be necessary to sustain growth.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.