SoftBank Group is poised to increase its investment in OpenAI through a $1.5 billion tender offer, according to sources familiar with the matter. The Japanese conglomerate’s move comes on

OpenAI employees will have the option of cashing out of their shares worth around $1.5B in a tender offer to SoftBank (OTCPK:SFTBY), two people familiar with the matter told CNBC. Employees have till December 24 to decide on participating in the tender offer,

The Japanese company is taking a bigger bet on the potential of artificial intelligence as the technology improves and gains momentum.

SoftBank chief executive Masayoshi Son is pushing for the tender offer after repeatedly asking for a larger stake in OpenAI, a person told CNBC. The Japanese firm invested $500 million in OpenAI’s $6.6 billion funding round in October that valued the startup at $157 billion.

The Softbank company is making another major investment in generative AI company OpenAI which will likely result in the transference of around $1.5 billion in shares. The shares come through a tender offer that is open to current and previous employees who had been granted restricted stock.

The Japanese tech investment company is starting a tender offer to buy shares worth $1.5 billion in OpenAI from employees of the startup, a person familiar with the matter said.