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OpenAI allows employees to sell shares worth $1.5 billion to SoftBank

Economic TimesEconomic Times · 18h
OpenAI allows employees to sell shares worth $1.5 billion to SoftBank

Softbank is set to acquire shares worth $1.5 billion from OpenAI employees, allowing the Japanese tech conglomerate to increase its stake in the AI company. Employees have the opportunity to liquidate their shares, with Softbank's founder and CEO Masayoshi Son driving the deal. Son has shown a keen interest in the AI sector and is focused on backing valuable private players in the space. This move reflects Softbank's strategy to deploy capital into businesses with high cash requirements. The generative AI market is predicted to reach $1 trillion in revenue over the next decade, with OpenAI's rivals, such as Anthropic and Google, ramping up their efforts. Softbank's India portfolio already boasts successful firms like FirstCry, Ola Electric, Swiggy, and Unicommerce.

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