SoftBank Increases Stake In OpenAI With $1.5 Billion Tender Offer

SoftBank is expanding its investment in OpenAI, offering to buy employee shares in a tender worth up to $1.5 billion, David Meyer reported for Fortune.

Softbank's tender offer comes after OpenAI relaxed its secondary share sale policy in June, a change prompted by employee feedback. I Photo: ishmael daro Flickr

This move follows an earlier $500 million investment by SoftBank's Vision 2 Fund. OpenAI employees have until December 24 to decide whether to sell their shares.

The tender offer comes after OpenAI relaxed its secondary share sale policy in June, a change prompted by employee feedback. However, employees optimistic about

OpenAI's growth may choose to retain their shares instead of cashing out. SoftBank, led by Masayoshi Son, has been actively increasing its investments in artificial intelligence, leveraging its strong cash reserves to deepen its involvement in the sector.