SoftBank to invest over 200 billion yen in OpenAI; 'Masayoshi Son's persistent demands' pull out employee stock holdings
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SoftBank is expected to acquire $1.5 billion worth of shares in OpenAI, according to a report from overseas media outlet CNBC. The deal is reportedly the result of persistent demands by SoftBank founder Masayoshi Son.
OpenAI gets $1.5 billion investment from SoftBank in tender offer
https://www.cnbc.com/2024/11/26/openai-gets-1point5-billion-investment-from-softbank-in-tender-offer.html
SoftBank to boost OpenAI stake with up to $1.5bn investment
https://www.ft.com/content/1a2a9b25-a7f1-4ce0-b537-e67b3853e5ad
On November 27, 2024, CNBC reported that 'OpenAI has agreed to allow current and former OpenAI employees to sell their shares in the company to SoftBank.'
The deal allows SoftBank to acquire $1.5 billion worth of OpenAI shares in a new tender offer, and it also gives OpenAI employees who are restricted from disposing of their shares a chance to cash out.
OpenAI employees have until Dec. 24 to decide whether to participate in the tender offer, according to one of two people familiar with the matter who spoke to CNBC. The deal was driven by SoftBank founder Son, who has been pushing for a larger stake in OpenAI after investing $500 million in the company's
The tender offer is unrelated to OpenAI's move to become a for-profit company, the people said.
CEO Sam Altman comments that OpenAI may become a for-profit company without a board of directors - GIGAZINE
The deal, which was made through SoftBank Vision Fund 2 , is seen as a sign of Son's growing interest in the AI field.
At a shareholders meeting in June 2024, Son predicted that artificial superintelligence (ASI), a system that far surpasses human intelligence, would be realized in about 10 years, and said , 'I truly believe that Masayoshi Son was born to make ASI a reality.'
SoftBank Vision Fund 2 has also invested in AI startups such as Glean, Perplexity, and Poolside in 2024.
On the other hand, OpenAI's valuation has reached $157 billion (about 23 trillion yen) in the two years since the release of ChatGPT in 2022, and it is said that even without SoftBank's investment, OpenAI would not have difficulty raising several billion dollars.
For example, Microsoft, which is considered OpenAI's most important partner, is estimated to have invested more than $13 billion in OpenAI.
Multiple media outlets contacted SoftBank and OpenAI, but both companies declined to comment.
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