Investing.com– OpenAI will permit its workers to promote about $1.5 billion value of shares to Japan’s SoftBank Group Corp. (TYO:) in a brand new tender provide, CNBC reported on Wednesday, because the AI startup courts extra high-profile traders.

The deal was struck by SoftBank CEO and founder Masayoshi Son, who was in search of a bigger stake in OpenAI, CNBC reported. Son had invested $500 million in OpenAI’s earlier funding spherical. 

Present and former OpenAI workers could have till December 24 to take part within the provide, the CNBC report mentioned. The provide will not be associated to the AI start-up’s plans to transition right into a for-profit enterprise.

The $1.5 billion tender provides to OpenAI’s latest $6.6 billion funding spherical, which valued the agency at about $157 billion, reviews confirmed earlier this yr. OpenAI continues to be a privately held firm and isn’t aware about disclosing its financials.

The report comes after SoftBank vowed to “aggressively” improve its investments in synthetic intelligence, citing excessive potential within the fast-growing expertise. The expertise conglomerate additionally reportedly has plans to begin its personal AI ventures. 

SoftBank additionally has investments in AI startups Glean, Perplexity and Poolside via its Imaginative and prescient Fund. 

The Japanese tech big is the newest high-profile investor to clinch a big stake in OpenAI, which has ballooned in worth after the launch of its ChatGPT device in late-2022. 

OpenAI ranks Microsoft Company (NASDAQ:) amongst its largest traders, whereas different tech majors, together with NVIDIA Company (NASDAQ:), additionally maintain stakes within the agency.

OpenAI and Softbank (OTC:) couldn’t be instantly reached for remark.