OpenAI bought back $7 billion of shares from current and former employees at a valuation of $852 billion. Why OpenAI’s buyback lands before the IPOThe stock purchase, disclosed on August 10, gives OpenAI employees a way to cash out paper equity without waiting for a stock market launch. A company tender is one of the few ways to get liquidity before a listing ties them down with IPO constraints. “We did not have our best 12 months ever, which is mostly my fault, but we are about to have our best 12 months to date,” Sam Altman told staff last month. we did not have our best last 12 months ever, which is mostly my fault, but we are about to have our best 12 months to date.