OpenAI employees aim to sell about $6 billion worth of shares to investors including Thrive Capital and SoftBank, valuing the firm at $500 billion. The secondary share sale complements SoftBank's leadership in a $40 billion funding round. The share sale helps retain talent against competition, particularly from companies like Meta, who are attracting employees with large salaries. Employees with at least two years at OpenAI can participate, while early investors are not eligible to sell shares in this round. SoftBank's involvement indicates a significant investment in OpenAI's future.
Current and former employees of OpenAI are looking to sell around $6 billion in shares. This move is structured to retain talent amid competition in the AI sector.
The share sale gives OpenAI employees the opportunity to cash out without requiring a public offering, thus functioning as a significant retention tool.
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