OpenAI's approximately 400 employees can cash out millions of dollars by selling shares through SoftBank

ChainCatcher news, OpenAI has reached an agreement with Japan's SoftBank Group, where approximately 400 current and former employees will cash out millions of dollars by selling shares to SoftBank. According to sources, SoftBank will acquire OpenAI shares at a price of $210 per share, with a total amount potentially reaching $1.6 billion. Employees can cash out part of their equity through this transaction, provided they received restricted stock units over two years ago.

OpenAI's current valuation is $157 billion, and eligible employees must decide whether to sell their shares by December 24. Current employees can cash out up to $10 million each, while former employees have a maximum limit of $2 million.

The total expected amount for this transaction is $2 billion, of which SoftBank has agreed to purchase $1.6 billion in shares, with the remaining $400 million in shares potentially going unsold.