OpenAI and SoftBank Group Corp. have reached an agreement to cash out millions of dollars for about 400 current and former employees by selling shares to SoftBank. According to sources, SoftBank will acquire OpenAI shares at a price of $210 per share, with a total amount potentially reaching $1.6 billion. Employees can cash out part of their equity through this transaction, provided they received restricted stock units more than two years ago.
OpenAI's current valuation reaches $157 billion, and eligible employees must decide whether to sell shares by December 24. Current employees can cash out up to $10 million each, while the maximum for former employees is $2 million.
The total amount of this transaction is expected to be $2 billion, of which SoftBank has agreed to purchase $1.6 billion in shares, with the remaining $400 million in shares possibly going unsold.