Nov 27, 2024
OpenAI allows employees to sell $1.5 billion stock to SoftBank, sources say
(Reuters) -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, two sources familiar with the matter told Reuters on Wednesday. SoftBank's billionaire CEO Masayoshi Son has been persistent in seeking a larger stake in the startup after investing in the last funding round, according to CNBC, which first reported the news. The Microsoft-backed artificial intelligence start-up raised $500 million from the Japanese conglomerate, according to a media report, in a $6.6 billion funding round in October at a valuation of $157 billion.