ChatGPT developer OpenAI employees reportedly got the opportunity to cash in by selling shares
OpenAI employees recently had the chance to sell their shares to Softbank, a company in Japan. The purchase price per share was $210, totaling $1.5 billion (about 2.1 trillion won).
Employee Stock Opportunity
According to reports from CNBC and other sources in the U.S., OpenAI granted its current and former employees, who had received restricted stock units (RSU) at least two years ago, the option to sell their shares to SoftBank. Employees who had held these shares for the minimum required period were eligible for this opportunity.
The deadline for these employees to make a decision on selling their holdings is set for the 24th of the following month. Unlike previous instances where OpenAI selected employees for such offers, this time, both current and former employees were given an equal chance to participate.
SoftBank's Involvement
SoftBank's tender offer was reportedly initiated at the request of Chairman Son Jeong-ui, indicating the company's interest in increasing its stake in OpenAI. In addition to this recent offer, SoftBank had also invested $500 million in OpenAI shares through Vision Fund the previous month.
It is worth noting that the tender offer by SoftBank does not imply any shift in OpenAI's status as a non-profit organization. OpenAI has been known for its restricted approach to such financial activities.
Future Plans for AI Development
SoftBank is actively expanding its investments in artificial intelligence (AI), aiming to achieve ultra-artificial intelligence (ASI) that surpasses human intelligence by 10,000 times. The company is also looking into developing AI-specific semiconductors through ARM, a British semiconductor design firm under its umbrella. Collaborating with OpenAI is seen as a strategic move towards advancing AI semiconductor technology.
Regarding OpenAI's latest model, OpenAIo1, which was introduced in September, Chairman Son Jeong-ui expressed his enthusiasm, stating, "I have the ability to think." Currently, OpenAI has around 3000 employees, with approximately 500 of them being engineers.
