OpenAI, the company behind ChatGPT, is offering its employees the opportunity to sell approximately $1.5 billion worth of shares in a new tender offer to Japan’s SoftBank Group, according to two sources familiar with the matter.
SoftBank’s CEO, Masayoshi Son, has been eager to increase his stake in the AI startup following his investment in OpenAI’s previous funding round, as reported by CNBC.
The deal follows SoftBank’s participation in OpenAI’s October funding round, where it raised $500 million as part of a $6.6 billion round that valued the company at $157 billion.
Employees of OpenAI will have until December 24 to decide whether to participate in the tender offer. The offer price is reportedly aligned with the valuation from the company’s last funding round. The investment will be made through SoftBank’s Vision Fund 2, according to sources.
While SoftBank and OpenAI declined to comment on the transaction, the move highlights SoftBank’s ongoing strategy to increase its exposure to the AI sector, which includes its stake in OpenAI and recent acquisition of chip startup Graphcore.
OpenAI, which has seen its valuation and user base soar since launching ChatGPT, continues to capture the global spotlight with its rapid growth and innovation.
