SoftBank’s tender offer allows OpenAI employees to cash out up to $1.5 billion worth of shares as it takes a larger stake in the company.
OpenAI, the artificial intelligence company behind ChatGPT, has received a $1.5 billion investment from SoftBank Group through a tender offer allowing the purchase of shares from current and former OpenAI employees.
The offer will enable OpenAI employees to cash out restricted stock units at $210 per share, allowing employees and stakeholders to receive liquidity during limited initial public offering (IPO) opportunities in tech.
The deal was reportedly driven by SoftBank’s billionaire founder and CEO, Masayoshi Son, who has shown consistent interest in acquiring a larger stake in the AI company, a person familiar with the matter told CNBC.
