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OpenAI wraps $7 billion share sale ahead of potential IPO
['Ashley Capoot', 'In Ashley-Capoot']
US Top News and Analysis
OpenAI completed a secondary share sale totaling roughly $7 billion, allowing current and former employees to sell stock at the company's $852 billion valuation, CNBC confirmed on Monday.
The tender offer has been in the works since OpenAI closed its record-breaking $122 billion funding round in March.
The deal will help alleviate some near-term pressure for liquidity, allowing employees to cash in a portion of their holdings ahead the company's potentially massive IPO.
The company completed a $6.6 billion tender offer at a $500 billion valuation in October, and a $1.5 billion tender offer in 2024.
—CNBC's Kate Rooney contributed to this reportWATCH: Big Tech’s Anthropic, OpenAI stakes distort S&P earnings picture