SoftBank Seeks Larger Stake in OpenAI with $1.5 Billion Tender Offer

OpenAI Employees Are Allowed to Decide on Selling Their Shares to SoftBank.

12 hours ago

Summary

SoftBank has made a tender offer to purchase approximately $1.5 billion worth of OpenAI shares from current and former employees at $210 per share.

Before OpenAI became a for-profit entity, SoftBank offers to purchase approximately $1.5 billion of the OpenAI's shares from current and former workers of OpenAI in order to acquire more ownership over the ChatGPT company.

The tender offer is planned to be completed by the Christmas for the OpenAI's employees to decide whether to participate to the unit price of $210 per share. The unit price was set after OpenAI's valuation at $157 billion in October.

SoftBank is keen on increasing its stake after an earlier $500 million investment in OpenAI, reflecting its high interest in AI industry.

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