SoftBank could increase its stake in OpenAI by $1.5 billion

OpenAI is reportedly seeking an additional $1.5 billion investment from SoftBank (SFTBY+1.85%).

The artificial intelligence startup is letting employees sell about $1.5 billion in shares to the Japanese investment firm in a tender offer, CNBC (CMCSA+0.48%) reported, citing unnamed people familiar with the matter. OpenAI’s current and former employees granted restricted stock units in the last two years reportedly have until December 24 to decide if they want to cash out their shares. The investment firm’s Vision 2 fund is reportedly working on the deal, a move that would increase its stake in the AI startup.

SoftBank chief executive Masayoshi Son is pushing for the tender offer after repeatedly asking for a larger stake in OpenAI, a person told CNBC. The Japanese firm invested $500 million in OpenAI’s $6.6 billion funding round in October that valued the startup at $157 billion.

Neither OpenAI nor SoftBank immediately responded to a request for comment from Quartz.

The Japanese firm’s tender offer is reportedly not related to OpenAI’s potential restructuring plans that would turn it from a nonprofit to a for-profit organization.

Meanwhile, OpenAI is reportedly spending more than it’s making. In September, the New York Times (NYT-0.62%) reported that OpenAI expects to end the year with $3.7 billion in annual sales, according to financial documents it reviewed. The review also showed that the startup anticipates losing around $5 billion this year due to expenses such as running its AI models and paying employees. Next year, OpenAI reportedly expects $11.6 billion in revenue.

Earlier this month, Bloomberg reported that OpenAI plans to launch an AI agent, codenamed “Operator,” in January. The AI agent can reportedly complete tasks on behalf of a user, including coding and booking travel.