Financial reports from OpenAI, valuation reports from credible financial news sources

SoftBank Invests $1.5B in OpenAI at $157B Valuation via Employee Tender Offer

Nov 27, 2024, 07:48 AM

OpenAI is allowing its employees to sell approximately $1.5 billion worth of shares to SoftBank Group in a new tender offer, according to reports from CNBC and other sources. The tender offer, spurred by SoftBank founder Masayoshi Son, will enable employees to cash out their shares at $210 per unit, matching OpenAI's valuation of $157 billion from its recent $6.6 billion funding round. The tender offer is set to close this week, and employees have until December 24 to decide whether to participate.