Open AI gives employees more time to cash out their shares.

OpenAI is moving forward with the tender offer after briefly putting it on hold when CEO Sam Altman was briefly ousted, and then reinstated. This means employees can sell shares in a deal valuing OpenAI at $86 billion. The tender offer timeline has been extended by a month to January 5th due to recent turmoil.

What’s going on here?

OpenAI’s tender offer is being extended to give employees more time.

What does this mean?

By proceeding with the tender offer, OpenAI is sticking to its plan despite the leadership turmoil. Some investors had dropped out when Altman was fired, but there's now enough demand to cover the deal. OpenAI sees enough interest to cash out employees at an eye-popping $86 billion valuation. The extension gives employees more time to opt in after the chaos. Essentially, early employees can unlock the value of their equity.

Why should I care?

The tender offer signals that OpenAI has stabilized after its leadership crisis and remains on track to go public eventually. The soaring valuation cements its status as a hugely valuable AI leader. Safe to say that despite the speed bumps, investor interest in OpenAI is still through the roof.