Nov 30, 2023

OpenAI Gives Employees Extra Month to Opt Into Plan to Sell Shares

Posted by in category: robotics/AI

OpenAI tender offer is on — allowing employees to sell shares, and they have until 1/5 to opt in.

OpenAI is sticking with a plan to let employees sell shares in the company through what’s known as a tender offer, and it’s giving would-be participants an extra month to decide whether to take part, according to several people with knowledge of the matter.

OpenAI had been in talks to sell shares in a deal that would value the artificial intelligence pioneer at $86 billion, people with knowledge of the matter told Bloomberg in October. But concerns it might not proceed as planned emerged earlier this month amid the turmoil that led to the firing — then quick re-hiring — of Chief Executive Officer Sam Altman.

WATCH: OpenAI will let employees sell shares through a tender offer.

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