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

Quick Summary:

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.

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).

The deal, priced at $210 per share, ...

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Article Details

Author / Journalist: Kaustubh Bagalkote

Category: Technology

Markets: United States

Topics: Startups MSFT SFTBY Benzinga Kaustubh Bagalkote JP3436100006 Tech US67066G1040 Equities SFTBF US5949181045 Masayoshi Son News NVDA Markets OpenAi

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-28 @ 01:57:46 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 247 words

Reading Time: 2 minutes read

Sentences: 13 lines

Sentence Length: 19 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 23911720

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