OpenAI has reportedly completed a deal to help employees sell nearly $7 billion worth of the company's shares ahead of its potential IPO.
The Sam Altman-led company repurchased shares from existing as well as former employees rather than relying on external investors for the tender offer, Bloomberg reported on Monday.
The startup's valuation remained unchanged at $852 billion following the deal.
OpenAI did not immediately respond to Benzinga's request for comments.
Read Also: EXCLUSIVE: The 75% of AI Workloads That May Not Need OpenAI or Anthropic OpenAI Reportedly Delays IPO Secondary sales have been a critical aspect of the ChatGPT maker's strategy in the run-up to its initial offering.
