Thrive-Led OpenAI Tender to Continue After Altman Returns

An OpenAI employee share sale that values the firm at $86 billion is back on track following Sam Altman’s reinstatement as CEO late Tuesday night, a person familiar with the matter said. The deal, in which a group of investors led by Thrive Capital will buy up to $1 billion of stock—and conceivably more—held by employees or other investors, is expected to close next month.

A range of investors was expected to participate, at least before the Altman saga, including Ashton Kutcher’s Sound Ventures, an existing shareholder whose participation in the forthcoming tender hasn’t previously been reported. Sound Ventures, prior to the firing, had committed about $100 million to the tender offer, a person familiar with the matter said. Whether Sound still plans to participate could not be learned.