Key Points
- OpenAI employees can sell up to $1.5 billion of shares to SoftBank by December 24. The share price matches OpenAI’s October valuation of $157 billion.
- The tender offer is part of SoftBank’s Vision Fund 2, showcasing its commitment to AI innovation.
- SoftBank’s CEO is expanding investments in AI, including OpenAI and chip startup Graphcore.
- The investment reflects SoftBank’s aim to capture emerging opportunities in AI technology.
According to two sources familiar with the development, OpenAI, the artificial intelligence powerhouse behind ChatGPT, allows its employees to sell approximately $1.5 billion worth of shares to Japan’s SoftBank Group in a tender offer. This move marks a significant step for SoftBank as it deepens its investment in the AI sector.
SoftBank’s billionaire CEO, Masayoshi Son, has consistently shown interest in increasing his stake in OpenAI following the conglomerate’s previous funding round. OpenAI, backed by Microsoft, recently raised $500 million from SoftBank as part of a $6.6 billion funding round in October. This brought the company’s valuation to an impressive $157 billion, underscoring its rapid growth and significant role in advancing artificial intelligence technologies.
The tender offer allows OpenAI employees to sell their shares at the same valuation as the previous funding round. According to a source, employees have until December 24 to participate. Another source revealed that the funding will be managed through SoftBank’s Vision Fund 2. OpenAI and SoftBank declined to comment on the matter.
Masayoshi Son has been actively bolstering SoftBank’s presence in the AI space. In addition to investing in OpenAI, SoftBank has acquired stakes in other AI-driven companies, such as chip startup Graphcore. Son recently hinted at saving resources for his “next big move” without elaborating on specific plans.
OpenAI’s meteoric rise has attracted global attention. Since launching its flagship product, ChatGPT, the company has amassed a staggering 250 million weekly active users, further solidifying its position as a leader in the AI industry.
The new investment aligns with SoftBank’s broader strategy to capture the expanding opportunities in AI and related technologies. By deepening its partnership with OpenAI, SoftBank aims to ride the wave of AI-driven innovation and solidify its foothold in the rapidly evolving tech landscape.
