TOKYO (dpa-AFX) - SoftBank Group Corp. (SFTBY) is planning to purchase OpenAI stock worth $1.5 billion as part of CEO Masayoshi Son's strategy to increase investment in artificial intelligence, according to several media reports.
The company intends to purchase the shares through a tender offer, inviting current and former employees of OpenAI to sell their stock, which they have held for more than two years.
The employees have until December 24 to participate in the offer.
As per the Financial Times, the Tokyo-based company will price the employee's stock based on the OpenAI's most recent funding round, which raised about $6 billion last month.
SoftBank Vision Fund has earlier invested $500 million during that funding round.
Currently, SoftBank's stock is trading at $29.11, up 1.25 percent on the OTC Markets.
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