OpenAI repurchases $7 billion in employee shares

OpenAI has repurchased approximately $7 billion of company shares from employees to prepare for a potential initial public offering on Wall Street in the future. Two people with knowledge of the matter stated that OpenAI's tender offer did not seek participation from external investors, but rather repurchased shares directly from current and former employees. This transaction gives the AI startup a valuation of $852 billion, consistent with the valuation in its recent funding round. In the past, OpenAI has invited investors such as Thrive Capital and SoftBank Group to purchase employee shares.