OpenAI has wrapped up a tender offer that lets employees sell about $7 billion in stock, signaling preparation for a possible IPO on Wall Street. No external investors were involved in the buyback, which saw shares repurchased from current and former staff. Post-transaction, the company's valuation hit $852 billion.
OpenAI has wrapped up a deal that lets its employees sell about $7 billion in company stock, another step toward a possible Wall Street initial public offering. No outside investors took part in the tender offer. OpenAI itself bought the shares straight from current and former employees. After the transaction, the company carries a valuation of about $852 billion.
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