SoftBank Boosts OpenAI with $1.5 Billion Investment Amid Controversies and Legal Wins
OpenAI has secured a significant $1.5 billion investment from SoftBank Group, facilitated through a tender offer that allows current and former employees of the AI company to sell their restricted stock units at a price of $210 per share.
This move provides liquidity for OpenAI’s stakeholders, especially in light of limited opportunities for an initial public offering (IPO) in the tech industry.
SoftBank, led by billionaire CEO Masayoshi Son, has shown continued interest in strengthening its stake in OpenAI. The deal is part of SoftBank’s broader strategy to increase its presence in the AI sector, following a major $6.6 billion funding round for OpenAI in October. This investment marks another step in SoftBank’s push to support cutting-edge tech companies.
READ MORE: Apple CEO Tim Cook Reveals Personal Bitcoin Investment, But No Plans for Corporate Involvement
In addition to this investment, OpenAI has recently faced controversies, including a leak of its unreleased text-to-video tool, Sora, by disgruntled beta testers who accused the company of exploiting their labor.
Meanwhile, OpenAI has seen a legal victory with a U.S. federal judge dismissing a copyright lawsuit that accused the company of using articles without permission to train ChatGPT. However, the plaintiffs have indicated plans to refile the case with more evidence.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
