SoftBank to Acquire $1.5 Billion Stake from OpenAI Employees

Foreks - OpenAI has allowed its employees to sell shares worth $1.5 billion in response to a tender offer from SoftBank. According to two individuals familiar with the matter who spoke to CNBC, the new funding will enable SoftBank to acquire an even larger stake in the AI venture and allow current and former OpenAI employees to cash out on their shares. One of the employees mentioned that they will have until December 24 to decide whether to participate in the previously unreported tender offer. The deal was encouraged by SoftBank's billionaire founder and CEO Masayoshi Son, who insisted on a larger share of the venture after contributing $500 million to OpenAI's latest funding round. One of the individuals noted that the tender offer is not related to OpenAI's potential plans to restructure the company as a profit-driven business.