OpenAI's $86 billion share sale in jeopardy after Altman firing- The Information


FILE PHOTO: OpenAI logo is seen in this illustration taken, February 3, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) -A planned sale of OpenAI employee shares that would value the startup at about $86 billion on paper hangs in the balance after the sudden firing of CEO Sam Altman and a slew of top executive departures, the Information reported on Saturday.

The tender offer, which Thrive Capital is leading, has not yet closed but has been in its final stages and was expected to be completed as soon as next month, the report added, citing a person familiar with the matter.

The Star Festive Promo: Get 35% OFF Digital Access

Monthly Plan

RM 13.90/month

Best Value

Annual Plan

RM 12.33/month

RM 8.02/month

Billed as RM 96.20 for the 1st year, RM 148 thereafter.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Tech News

Wingtech says it will 'exhaust all legal means' to restore Nexperia control
Humanoid startup Apptronik raises $520 million with backing from Google and Mercedes-Benz
Brazilian fintech Agibank raises $240 million in scaled-back US IPO
GlobalFoundries expects strong quarterly revenue on chips demand from data centers
T-Mobile boosts 2027 outlook on strong premium plan uptake
Shopify issues upbeat quarterly forecasts, $2 billion stock buyback plan
Activist investor Ancora to oppose Netflix-Warner Bros deal, backs Paramount bid
Dutch court orders investigation into Nexperia, upholds previous decisions including Chinese CEO suspension
Instagram's leader to testify in court on app design, youth mental health
Amazon Pharmacy to expand same-day delivery to about 4,500 US cities and towns

Others Also Read