Just in time for the holidays: Roughly 400 current and former OpenAI employees are set to receive multi-million dollar paydays thanks to a special stock sale the privately-held San Francisco company has arranged with Japan's SoftBank Group.
The tender offer allows certain OpenAI employees and former staffers to sell their stock to SoftBank at $210 per share, according to a source with knowledge of the matter. The transaction opens an important avenue for insiders to cash out some of the equity they have locked up in the AI company, whose valuation has doubled over the past year to $157 billion.
