The AI cryptocurrency market is showing signs of recovery as Sam Altman’s OpenAI allows employees to sell $1.5 billion worth of shares to SoftBank. On Wednesday, OpenAI raised a whopping $1.5 billion in investment through a new tender offer. Notably, the move makes Japanese multinational investment conglomerate SoftBank a major shareholder in the company. As the AI industry is booming, market watchers are looking to see if AI Coins can benefit from this positive impact.
OpenAI Employees Benefit from Share Sale
According to a report from CNBC on November 27, OpenAI has granted employees the right to sell $1.5 billion worth of shares to SoftBank as part of a new tender offer. To be clear, a tender offer is a proposal to buy shares from an organization’s current shareholders.
The deal would make SoftBank one of OpenAI’s largest shareholders. It would also give current and former employees of the company founded by Sam Altman the opportunity to realize the value of their shares — a remarkable opportunity. However, employees must decide to participate in the deal by the December 24 deadline.
The deal is reportedly being promoted by SoftBank CEO Masayoshi Son, who previously invested $500 million in OpenAI’s recent funding round. CNBC also added that the tender offer is unrelated to plans to convert OpenAI into a “for-profit” organization in the future.
AI Coins Market Awaits for Breakout
The news has been well received by the crypto market watchers, with expectations that the growth of the AI industry will have a positive impact on AI Coins.
Amidst notable corrections in the broader crypto market, some popular AI coins such as Injective (INJ), Near Protocol (NEAR), Bittensor (TAO), and Render Token (RENDER) have recorded price increases, sparking positive speculations from investors. The overall crypto market outlook remains optimistic, thanks to the positive sentiment after the US elections and a bright outlook for Q4.
- Near Protocol (NEAR): NEAR price increased by 3% on the day to $6.64, with an 18% increase on the week, raising expectations for positive movements in the future thanks to advances in the AI field.
- Internet Computer (ICP): ICP is up 1% on the day, trading at $11.46. Its 24-hour price ranged from $10.72 to $11.59, and is up 24% on the week, indicating further upside if the market recovers.
- Bittensor (TAO): TAO is up 3% on the day, trading at $558, with a 20% increase on the week, signaling strong investor interest.
- Render Token (RENDER): RENDER is down 4% on the day, currently trading at $7.46, ranging from $7.13 to $7.75 in 24 hours.
Investors remain bullish on the growth prospects of AI Coins as the industry continues to grow strongly, especially with a $1.5 billion investment from Japanese multinational conglomerate SoftBank.
