OpenAI Employees Offered Stock Sale Opportunity Amid SoftBank Deal

According to Odaily, a special stock sale arrangement between OpenAI and Japan's SoftBank Group will allow approximately 400 current and former OpenAI employees to cash in millions of dollars. Sources familiar with the matter revealed that this tender offer permits certain OpenAI employees and former employees to sell their shares to SoftBank at $210 per share. This transaction enables employees to monetize part of their equity, with the company's valuation having doubled over the past year to $157 billion. SoftBank plans to purchase up to $1.6 billion worth of shares from eligible shareholders, who must have received restricted stock units more than two years ago to participate. Eligible OpenAI shareholders must decide by December 24 whether to sell and how much to sell. OpenAI currently employs over 2,000 people. If the offer is oversubscribed, current OpenAI employees will be prioritized over former employees. Each eligible current employee can cash out up to $10 million. Depending on participation, former employees may not be able to sell the full $10 million in equity, but according to OpenAI's rules, they will be able to cash out at least $2 million worth of stock. Sources indicate that OpenAI has stated the total amount of stock eligible for sale is $2 billion. With SoftBank agreeing to purchase $1.6 billion, this leaves potentially $400 million worth of stock without a buyer.