OpenAI gets new $1.5 billion investment from SoftBank, allowing employees to sell shares in a tender offer
Publishing timestamp: 2024-11-27 10:17:12
Summary
OpenAI is allowing employees to sell about $1.5 billion worth of shares to SoftBank in a new tender offer. SoftBank's latest investment adds to OpenAI's recent $6.6 billion funding round at a $157 billion valuation. The deal was spurred by SoftBank's founder and CEO Masayoshi Son's interest in the AI space. The tender offer will allow current and former OpenAI employees to cash out their shares, and it comes as the generative AI market is predicted to top $1 trillion in revenue within a decade.
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Keywords: generative ai, artificial intelligence, microsoft corp, business news, breaking news: technology, technology, softbank group corp, alphabet inc,