OpenAI is allowing employees to sell roughly $1.5 billion worth of shares in a new tender offer to SoftBank, CNBC has learned.
Employees will have until Dec. 24 to decide if they want to participate in the new tender offer, which has not previously been reported, one of the people said.
The tender offer is not related to OpenAI's potential plans to restructure the firm to a for-profit business, one of the people said.
The OpenAI investment matches SoftBank's eagerness to deploy cash, with a capital-intensive business model, a person close to Son told CNBC.
The company also received a $4 billion revolving line of credit, bringing its total liquidity to more than $10 billion.
Persons:
Masayoshi Son, OpenAI, SoftBank, Son
Organizations:
CNBC, Employees, Apple, Qualcomm, SoftBank's, Microsoft, Nvidia