OpenAI allows current employees to sell shares in tender offer to Softbank
Softbank is making a major investment in AI company OpenAI, which could result in a share transfer of approximately $1.5 billion. The shares were obtained through a stock purchase offer open to current and previous employees who received restricted shares. The investment comes on top of a recent $6.6 billion funding round. This pushes the company past its $157 billion valuation.
OpenAI opened the door for employees to sell restricted shares to Softbank this week, according to reports. CNBC– The move on Softbank’s part is part of a big push by CEO, founder and billionaire Masayoshi Son, who has been campaigning hard for Softbank to own a majority stake in OpenAI. Employees will be able to sell their shares in Total unit price: $210 per share Sellers will be able to withdraw their shares and avoid any major transfers. to the public market as OpenAI is not publicly traded at this time.
Another Advanced Voice update for you—now rolling out. On the desktop for all paying users
So you can easily learn how to say exactly what you are presenting. pic.twitter.com/n138fy4QeG
— OpenAI (@OpenAI) November 19, 2024
Tender offers have become increasingly popular for investing in technology companies. This is especially true of groups like OpenAI that have no plans for an initial public offering. However, with a valuation of $157 billion, OpenAI is still a very popular space in the field of innovative AI development. However, it It’s not all roses either. The company has seen a major departure from leadership positions. This includes co-founder John Schulman and CTO Mira Murati. The ethics of using and training creative AI is also a concern. The company recently admitted that it was unable to train its system without sufficient licensed content.
However, Softbank clearly still sees significant value in the company. And it’s not just one value. As we continue to bring you OpenAI, ChatGPT, and other creative AI news, stay tuned here at Shacknews.
