SoftBank to Buy $1.5 Billion in OpenAI Shares at $210/Unit in Tender Offer

Nov 27, 2024, 12:10 PM

SoftBank Group Corp. is set to acquire up to $1.5 billion worth of shares in OpenAI from its employees through a tender offer, as reported by CNBC. This move is part of SoftBank's strategy to deepen its collaboration with OpenAI, following a previous investment of $500 million in October. The tender offer, spurred by SoftBank's founder Masayoshi Son, allows current and former OpenAI employees to sell their shares at $210 per unit, matching OpenAI's valuation of $157 billion. Employees have until December 24 to decide whether to participate in this offer. This investment adds to OpenAI's recent $6.6 billion funding round, bringing the total raised to $13 billion from major investors including Microsoft and Nvidia.