SoftBank Group Corp. is looking to increase its stake in OpenAI by purchasing up to $1.5 billion worth of shares from the artificial intelligence startup’s employees, sources familiar with the situation have revealed. This move is part of a tender offer, which would allow OpenAI staff to sell their shares if they choose to do so.
The Japanese conglomerate had previously invested $500 million in OpenAI’s $6.6 billion fundraising round in October. However, sources indicated that SoftBank had pushed for a larger allocation at that time, although the specific details of the negotiations remain private.
It is still uncertain how much stock SoftBank will be able to buy from the employees. Some staff members may opt to hold onto their shares, especially if they believe the company’s prospects are bright in the coming years.
Both SoftBank and OpenAI declined to comment outside of regular business hours when approached by reporters.
According to a report from CNBC, the tender offer is expected to close this week, marking a significant step in SoftBank’s ongoing investment strategy in the AI space.
