OpenAI is offering employees the chance to sell up to $1.5 billion worth of shares in a tender deal with Japan’s SoftBank Group. The transaction is expected to close by 24 December.
The move aligns with the company’s recent valuation of $157 billion, sources familiar with the matter revealed.
SoftBank, through its Vision Fund 2, will acquire the shares as part of its ongoing strategy to deepen investments in artificial intelligence. This move follows SoftBank’s $500 million investment in OpenAI during a $6.6 billion funding round in October. Employees must decide by the deadline if they wish to participate in the tender.
SoftBank has been keen on increasing the conglomerate’s exposure to the AI boom. This includes expanding SoftBank’s stake in OpenAI and acquiring other tech ventures, such as chip startup Graphcore. Additionally, the company recently hinted at preparing funds for significant investments but did not share specific details.
OpenAI’s rise has been nothing short of remarkable. Since launching ChatGPT, the company has gained 250 million weekly active users, cementing its position as a leader in AI innovation. Both OpenAI and SoftBank have declined to comment on the share sale or related plans.
This tender offer underscores growing interest in AI-focused ventures, with major players vying for stakes in transformative technologies shaping the future.
