TechCrunch·3 min read·medium
OpenAI reportedly completed a $7 billion employee tender offer
T
Tim Fernholz
✦AI Summary
OpenAI has completed a $7 billion employee tender offer, allowing staff to cash out equity while maintaining the company's $852 billion valuation. This move suggests the company may delay a public IPO as it focuses on refining its enterprise business strategy.
OpenAI has bought back $7 billion worth of shares from employees at the privately held frontier AI lab as part of an effort to provide liquidity to its workforce.
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