SoftBank Group plans to invest $1.5 billion in OpenAI through tender offer
Subscribe to enjoy similar stories. SoftBank Group is starting a tender offer to buy shares worth $1.5 billion in OpenAI from employees of the startup behind ChatGPT, a person familiar with the matter said.
The Japanese tech investment company is making the investment through its Vision Fund 2, the person said, adding that current and former OpenAI employees will have until Dec. 24 to decide whether to sell their shares.
CNBC has previously reported that OpenAI is allowing employees to sell roughly $1.5 billion worth of shares in a new tender offer to SoftBank. SoftBank invested about $500 million in OpenAI through its Vision Fund 2 when the startup raised $6.6 billion in a recent round of new funding.
News Corp, owner of The Wall Street Journal and Dow Jones Newswires, has a content-licensing partnership with OpenAI. Write to Kosaku Narioka at kosaku.narioka@wsj.com
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