SoftBank Seeks to Buy $1.5 Billion OpenAI Shares From Employees
- Japanese company had sought a larger stake in OpenAI
- SoftBank CEO aims to invest more in artificial intelligence
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SoftBank Group Corp. aims to increase its stake in OpenAI by acquiring up to $1.5 billion in shares from the startup’s employees, according to people familiar with the matter.
The Japanese company will make a tender offer for the stock, allowing OpenAI employees to cash in shares if they choose. SoftBank contributed $500 million to OpenAI’s $6.6 billion fundraising round in October, but had pushed for a larger allocation at the time, said one of the people, asking not to be named because the negotiations aren’t public.