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    Home » SoftBank invests $1.5B in OpenAI, enabling share sale to employees
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    SoftBank invests $1.5B in OpenAI, enabling share sale to employees

    By SelinaNovember 27, 2024No Comments2 Mins Read
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    • SoftBank’s investment in OpenAI offers employees a chance to sell shares.
    • The move underscores SoftBank’s commitment to the AI industry.

    What happened

    OpenAI, backed by Microsoft, has permitted its employees to sell approximately $1.5 billion worth of shares to Japan’s SoftBank Group through a new tender offer. This move follows OpenAI’s completion of a $6.6 billion funding round in October, which included investments from SoftBank, valuing the company at $157 billion. The tender offer, set to close this week, provides current and former OpenAI employees the opportunity to cash out their shares.

    Also read: SoftBank joins $130M fund to boost AI startups
    Also read: SoftBank abandons AI chips partnership plan with Intel

    Why it is important

    This investment and subsequent tender offer are significant for several reasons. Firstly, it underscores SoftBank’s continued interest and confidence in the AI space, particularly in OpenAI, after already investing $500 million in a previous funding round. The move also allows SoftBank to increase its stake in one of the leading AI companies, which is particularly notable given the generative AI market’s predicted revenue of over $1 trillion within a decade. For OpenAI employees, this tender offer represents a rare opportunity to liquidate their shares in a private company with no immediate plans for an initial public offering (IPO), providing much-needed liquidity and reward for their contributions to the company’s growth. This development is a testament to the ongoing financial viability and attractiveness of AI startups in the private market, despite economic fluctuations and the unpredictability of public market listings.

    OpenAi shares SoftBank
    Selina

    Selina Li is an inter reporter at Blue Tech Wave Media.She majored in foreign language in college. Contact her at selina.li@btw.media.

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