Bitcoin 
Ethereum 
Tether 
BNB 
Solana 
XRP 
USDC 
Lido Staked Ether 
Cardano 
Avalanche 
Key Points
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OpenAI has become the world’s largest startup with a $500 billion valuation.
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SpaceX, ByteDance, and Anthropic trail far behind.
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Crypto leaders like Tether and Coinbase struggle to reach even one-fifth of OpenAI’s value.
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Stablecoins may link AI and blockchain growth in the digital economy.
OpenAI has become the world’s largest startup after reaching a $500 billion valuation in a secondary share sale.
Investors, including Thrive Capital, SoftBank, Dragoneer, Abu Dhabi’s MGX, and T. Rowe Price, bought $6.6 billion worth of stock from current and former employees, according to Bloomberg.
This milestone places OpenAI ahead of SpaceX, Elon Musk’s high-profile company valued at $400 billion. Other global giants, such as ByteDance at $220 billion and Anthropic at $183 billion, now fall well behind OpenAI. The scale of growth highlights how AI has quickly taken the lead as the most attractive sector for investors.
AI dominance over traditional startups
The $500 billion valuation shows how investors see AI as central to future digital infrastructure. While OpenAI towers over its competitors, crypto companies provide a sharp contrast. Coinbase, the largest publicly traded crypto exchange, holds only $89 billion in market value. Ripple, Circle, and Binance also remain below $100 billion.
Tether, the largest stablecoin issuer, is considered the closest competitor from the crypto side. Artemis CEO Jon Ma recently suggested that Tether, if publicly listed, could reach a $515 billion valuation. Such a figure would place it nearly equal to OpenAI, making it the 19th-largest public company.
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Tether and stablecoins as AI partners
Stablecoins are becoming more relevant in this debate. On Sept. 3, Galaxy Digital CEO Mike Novogratz argued that AI agents will be the biggest users of stablecoins. His reasoning was clear, as automated systems need efficient digital money for constant micro-transactions.
Recent research by CEX.io revealed that over 70% of stablecoin transactions in Q3 2025 were linked to bots. This signals the beginning of the overlap between AI activity and crypto. From my standpoint, such figures point toward a world where AI systems increasingly rely on stablecoin liquidity.
Building digital infrastructure with AI and crypto
Novogratz is also betting directly on AI. His firm, Galaxy Digital, secured a $1.4 billion loan in August to fast-track its Texas Helios AI data center. The facility will support CoreWeave’s AI and high-performance computing services. Forecasts suggest that the center could generate more than $1 billion in annual revenue.
This underlines how AI and blockchain both act as pillars of digital infrastructure. On one side, AI drives software and automation. On the other hand, stablecoins and crypto provide financial rails.
The two may evolve together, offering complementary solutions to the global economy.
Why OpenAI leads while crypto lags
OpenAI’s $500 billion valuation reflects investor belief in AI as a near-term revenue generator. In contrast, crypto companies face regulatory hurdles and slower adoption in mainstream finance. SpaceX remains a strong competitor in aerospace, but the capital flowing into AI shows a broader economic priority shift.
The contrast also proves that size alone does not guarantee leadership. Crypto needs clear regulations and public trust before valuations can match AI leaders. Stablecoins, however, appear to be the exception. With growing global usage, Tether might be the only crypto entity capable of matching OpenAI’s valuation.
The story of OpenAI’s rapid rise highlights a turning point. With $500 billion in value, it shows how AI has become the central focus for investors. The combination of AI with stablecoins may shape the next stage of digital infrastructure, bringing software and finance together in new ways.
