OpenAI Employees' Stock Boom...? SoftBank's '2 Trillion Won' Tender Offer Revealed

OpenAI, the developer of the generative artificial intelligence (AI) ChatGPT, has allowed its employees to sell shares worth $1.5 billion (approximately 2.0943 trillion KRW).

On the 27th, CNBC reported, citing two sources, that OpenAI permitted SoftBank to publicly buy shares held by OpenAI employees.

Sam Altman, CEO of OpenAI, is having a conversation at the 'K-Startups meet OpenAI' event hosted by the Ministry of SMEs and Startups on the 9th at 63 Square, Yeouido, Seoul. Photo by Jinhyung Kang aymsdream@

The eligible individuals are current and former OpenAI employees who received restricted stock units (RSUs) from OpenAI at least two years ago and have held the shares during that period. The purchase price is $210 per share, which is the same price per share applied during OpenAI's $6.6 billion (approximately 9.2149 trillion KRW) funding round last month.

This allows SoftBank to increase its stake in OpenAI, while current and former OpenAI employees can liquidate their shares. Eligible employees must decide whether to sell their shares by the 24th of next month.

This public tender offer came after Masayoshi Son (Korean name Son Jeong-ui), chairman of SoftBank Group, invested $500 million (approximately 698.1 billion KRW) in OpenAI last month and requested an increase in his stake.

A close associate of Chairman Son told CNBC that this OpenAI investment aligns with SoftBank's desire to invest cash based on a capital-intensive business model.

Previously, OpenAI had limited the employees who could participate in public tender offers, but this time, both current and former employees are allowed to participate equally. However, according to insiders, this public tender offer is unrelated to OpenAI's plans to convert the company into a for-profit enterprise.