Around 400 current and former OpenAI employees are set for significant payouts through a stock sale arranged with Japan’s SoftBank Group.
The tech investment giant plans to purchase up to $1.6 billion in OpenAI shares at $210 per share, valuing the company at $157 billion, according to reports from the US overnight.
The offer allows eligible shareholders, including those issued restricted stock units more than two years ago, to sell up to $10 million worth of vested shares, with a minimum of $2 million guaranteed for former employees if the deal is oversubscribed.
SoftBank, which previously ploughed $500 million in OpenAI’s October fundraising round, is seeking to expand its stake in the AI firm.
Current employees will be prioritised in the sale, which closes on December 24.