OpenAI employees would be allowed to cash out their company’s share worth $1.5 billion regarding the investment agreement with SoftBank.
SoftBank, a Japanese-based multinational investment company, is financing the world’s prominent artificial intelligence (AI) enterprise OpenAI with $1.5 billion. This agreement would allow the employee to gain a profit by selling their shareholding.
Through these corporate actions, SoftBank would have a bigger stake in the company, which is something that the CEO Masayoshi Son asked for quite a long time.
OpenAI’s employees who hold the share would have spare time before the end of the year, on Dec. 24. If the employees agree, they would benefit from around $210 per share, aligned with the most recent funding.
Current and previous employees could participate in the funding, but only those who had been granted restrictions and held the share for at least two years.
OpenAI, which has been considered a non-profit organization for a decade, is denied the issue that this funding is related to the newest company’s orientations, which will move to the profit-making enterprise.
SoftBank funding for emerging technologies
According to CNBC on Nov. 27, $1.5 billion in funding for OpenAI comes from SoftBank’s Vision Fund 2.
This funding was specifically used to invest in emerging technology and companies, including Nvidia, Uber, Exscientia, Glean, Perplexity, and Poolside. Through this investment, the company based in Tokyo will expand its horizon on investing in emerging technologies like artificial intelligence.
SoftBank’s Vision Fund 2 (SVF2) was initiated in 2019 and collected an investment commitment of up to $56 billion. In 2021, funding was invested in more than 250 companies, and the majority of the funding is a new investment.
Now, the funding is focused on accelerating the use of artificial intelligence, market leaders, and companies with a value over $1 billion or who have named a unicorn.
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