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Benzinga
Benzinga
Business
Kaustubh Bagalkote

SoftBank Secures Bigger OpenAI Stake With $1.5B Employee Share Buyout: Report

OpenAI enables employees to sell up to $1.5 billion worth of shares in a tender offer led by SoftBank Group (OTC:SFTBY) (OTC:SFTBF).

What Happened: The transaction, set to close by Dec 24, allows SoftBank to deepen its stake in the AI leader while offering liquidity to current and former employees, reported CNBC, citing people familiar with the matter.

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