OpenAI may allow employees sell shares worth $1.5 billion to SoftBank: Why it is important for the Japanese company
Published On : 2024-11-27T22:38:15+0530 [ IST ] |
Author : Mayur_Tembhare
Reading Time : 1 mins
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Softbank may get a bigger share in ChatGPT-maker OpenAI OpenAIas the AI company has reportedly let its employees sell shares worth around $1.5 billion to the Japanese tech conglomerate.
Reuters reported that employees have until December 24 to decide whether to participate in the newly-disclosed tender offer. The deal was reportedly driven by SoftBank's billionaire founder and CEO Masayoshi Son who pressed for a larger stake
What this means for SoftbankWhat this means for Softbank
What this means for Softbank
The development is in line with Son’s interest in the AI sector and his focus on backing the most valuable private players in the space. SoftBank was an early backer of Arm and Son recently stated at a conference that he is reserving “tens of billions of
SoftBank has about 470 portfolio companies and $160 billion in assets across its two vision funds and Vision Fund 2 has invested in AI startupsGlean Perplexity and Poolside. Son has previously invested in Apple, Qualcomm and Alibaba. Recently it was revealed that Son wanted Nvidia CEO Jensen Huang to
When it comes to India SoftBank has invested in companies like FirstCry Ola Electric Swiggy and Unicommerce – and all these companies went public this year.
What this means for Softbank OpenAI employeesWhat this means for Softbank OpenAI employees
What this means for Softbank OpenAI employees
The offer will allow current and former OpenAI employees to cash out their shares provided they were granted restricted stock units at least two years ago and have held them for that duration. Shares will be priced at $210 per unit aligning with the company's latest funding round.
Source : Reporters From Sunrise Chronicles
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Summary :
Softbank may get a bigger share in ChatGPT-maker OpenAI OpenAIas the AI company has reportedly let its employees sell shares worth around $1.5 billion to the Japanese tech conglomerate.
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