OpenAI Deal to License Disney Characters Is Entirely in Stock
Disney characters perform in the Royal Ball lobby during the Disneyland Hotel reopening celebration at Disneyland Paris in 2024.
Photographer: Kristy Sparow/Getty ImagesOpenAI is getting access to Disney’s kingdom without cutting a check.
The artificial intelligence company’s recent deal to license iconic characters from Walt Disney Co. for its Sora video app is entirely in stock warrants rather than a cash licensing fee, according to people familiar with the matter. OpenAI will offer Disney the option to purchase shares in the high-flying startup beyond its previously announced $1 billion stake.