OpenAI's official financial statements or press releases

SoftBank's Masayoshi Son Spurs $1.5 Billion OpenAI Tender Offer at $157 Billion Valuation

Nov 27, 2024, 08:50 AM

OpenAI is allowing its employees to sell approximately $1.5 billion worth of shares to SoftBank in a new tender offer, according to sources familiar with the matter. The tender offer, set to close this week, was initiated by SoftBank founder Masayoshi Son and will allow employees to sell shares at $210 per share, matching OpenAI's recent valuation of $157 billion. Employees have until December 24 to decide whether to participate. This transaction follows OpenAI's recent $6.6 billion funding round. OpenAI projects $3.7 billion in revenue and $5 billion in losses.