Will AI Coins Rally As OpenAI Secures $1.5B Investment From SoftBank?
OpenAI on Wednesday secured a whopping $1.5 billion investment leveraging a new tender offer. Notably, the AI giant marked this feat as it allowed its employees to sell shares to SoftBank, making the Japanese multinational investment holding company a vital stakeholder in the firm. With the broader AI industry booming, market watchers speculate whether AI coins could mirror a positive impact.
OpenAI Employees To Sell $1.5B in Shares to SoftBank
According to a CNBC report dated November 27, OpenAI has granted its employees the right to sell shares worth $1.5 billion to SoftBank as a part of a new tender offer. For context, a tender offer is a proposal made by an entity to purchase shares from existing shareholders.
This tender offer, in turn, could position the Japanese investment holding company as one of the largest stakeholders of the AI firm. Meanwhile, former and current employees of the Sam Altman-backed firm remain poised to cash out their shares, a noteworthy opportunity.
However, it’s worth mentioning that employees have a deadline of December 24 to decide whether they want to partake in this tender offer. Reportedly, the deal was rolled out via SoftBank CEO Masayoshi Son, who notably backed OpenAI in its last funding round with a $500 million investment.
CNBC sources further cited that the new tender offer is not linked to the AI giant’s plans to rebirth as a ‘for-profit organization.’
Meanwhile, CoinGape Media earlier reported that OpenAI saw its valuation top $157 billion after it secured $6.6 billion in funding from investors recently. However, both entities have declined to speak on the matter as of now, sparking noteworthy intrigue.
In turn, crypto market watchers have welcomed the news with open arms, expecting a positive broader impact on AI coins as the industry sees advancements.
AI Coins Eye Gains?
The broader crypto market witnesses notable corrections at present, keeping investors on their toes. Some of the most popular AI coins, Injective (INJ), NEAR, TAO, and RENDER saw price gains, sparking speculations among market watchers. However, wider investor sentiments over crypto prices ahead remain bullish, primarily attributable to a bullish Q4 post-U.S. elections.
Besides, at the time of reporting, Near Protocol price noted gains worth 3% over the past day to reach $6.64. Its weekly chart underscored gains worth 18%, igniting market optimism over future movements in light of advancements in the AI realm.
However, Internet Computer (ICP) price jumped 1% over the past day and is trading at $11.46. The coin’s 24-hour low and high were $10.72 and $11.59, respectively. Notably, even ICP price soared 24% weekly, indicating the potential for further gains given the broader market recovers.
Bittensor (TAO) price jumped 3% intraday and is trading at $558. Even Bittensor’s weekly chart underlined an 20% pump. Lastly, RENDER price dipped 4% intraday and is currently trading at $7.46. The coin’s 24-hour low and high were $7.13 and $7.75, respectively.
Crypto market enthusiasts continue to eye AI coins for further gains as the broader sector continues to advance, as seen by the staggering $1.5 billion investment injected by a Japanese multinational holding company.
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