OpenAI allows employees to sell $1.5 billion stock to SoftBank, CNBC reports
· CNA · Join:ChatGPT-owner OpenAI is allowing its employees to sell roughly $1.5 billion worth of shares in a new tender offer to Japan's SoftBank Group, CNBC reported on Wednesday, citing two people familiar with the matter.
The report comes after Microsoft-backed OpenAI completed a $6.6 billion funding round from investors, including SoftBank in October at a valuation of $157 billion.
The Information reported that the Japanese conglomerate had already invested $500 million in the AI company.
CNBC said the new financing was spurred by SoftBank's billionaire CEO Masayoshi Son, who was persistent in seeking a larger stake in the startup after investing in its last funding round.
The tender offer is set to close this week and will allow current and former OpenAI employees to cash out their shares, according to the report.
OpenAI and SoftBank declined to comment on the report to CNBC.
They did not immediately respond to a Reuters request for comment.
Sign up for our newsletters
Get our pick of top stories and thought-provoking articles in your inbox
Get the CNA app
Stay updated with notifications for breaking news and our best stories
Get WhatsApp alerts
Join our channel for the top reads for the day on your preferred chat app