Through a tender offer, SoftBank Group Corp. (SFTBY) is ready to commit $1.5 billion in OpenAI funds from current and former Microsoft-backed ChatGPT personnel, CNBC said, referencing unidentified sources.The tender offer will let OpenAI staff members with limited stock units kept for at least two years cash out their shares. Participation has a deadline of December 24. This offer stands apart from OpenAI's continuous intentions to reorganize as a for-profit company.
Reportedly wanting a bigger stake in OpenAI, SoftBank CEO Masayoshi Son has voiced aspirations to increase the company's influence in artificial intelligence. Previously investing $500 million in OpenAI's $6.6 billion fundraising campaign in October, the Japanese conglomerate valued the AI startup at $157 billion.
Son lately said intentions to commit "tens of billions of dollars" for major AI initiatives, thereby indicating SoftBank's will to profit from industry developments. Supported by Microsoft Corp. (MSFT, Financial), OpenAI is highly sought after as AI technologies like ChatGPT become increasingly popular. The investment made by SoftBank emphasizes the financial stakes and increasing rivalry in the artificial intelligence sector.
