ChatGPT-owner OpenAI, the Microsoft-backed AI startup, has initiated a $1.5 billion share sale on Wednesday for its employees in a new tender offer to Japan’s SoftBank Group, according to a report in Reuters, citing sources.
SoftBank CEO Masayoshi Son, eager to expand his stake in the AI leader, plans to invest through the Vision Fund 2, aligning with OpenAI’s $157 billion valuation from its October funding round.
In the last round, OpenAI raised $6.6 billion, with $500 million coming from SoftBank. Employees have until December 24 to decide on participating in the share sale, which offers shares at the same price as the previous round.
Masayoshi Son has expressed ambitions to amplify SoftBank’s involvement in AI technologies, with investments in OpenAI and chip startup Graphcore. OpenAI, valued at $157 billion, has garnered significant global attention, especially since ChatGPT’s launch, which has amassed 250 million weekly active users.
Neither SoftBank nor OpenAI commented on the tender offer.
