OpenAI has arranged a private stock sale for its staff with SoftBank Group that allows current and former employees to sell their stock to SoftBank at $210 per share, a source told Fortune on Tuesday.
The tender offer, or bid to purchase stock in a company, allows OpenAI employees who were issued stock more than two years ago (OpenAI was valued at nearly $20 billion) to cash in on the ChatGPT-maker’s enormous growth. After a $6.6 billion fundraising round this past October, the company’s new valuation stands at $157 billion, a nearly eightfold increase.
According to Fortune, SoftBank plans to buy up to $1.6 billion in stock from eligible shareholders. The
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