OpenAI has bought back $7 billion worth of shares from employees at the privately held frontier AI lab as part of an effort to provide liquidity to its workforce.

The deal, reported by Bloomberg, valued OpenAI at $852 billion, the same as its most recent fundraising round in March, which added $122 billion to the company’s war chest.

The company also filed confidentially with the Securities and Exchange Commission in June to prepare for a potential IPO later this year. However, a tender offer suggests that an IPO may not be forthcoming soon. With many tech companies remaining private longer than previous generations of startups, private tenders have proven a useful way for firms to allow employees to realize the value of their stock compensation without the difficulties that come with a public offering.

OpenAI did not respond to a request for comment by publication time.

Last month, OpenAI CEO Sam Altman wrote that “we did not have our best 12 months ever, which is mostly my fault, but we are about to have our best 12 months to date.” Firms going public typically want to show strong financial results to bring investors on board, and the Wall Street Journal reported in April that the company missed internal financial goals.

While OpenAI’s incredible growth and products are likely to generate massive interest in public markets, the potential debut of rival Anthropic — which was reportedly profitable earlier this year — gives the company a reason to ensure it puts its best face forward. The tender could be another signal that the much-anticipated offering will wait for OpenAI’s new strategy of paring down its bets and focusing on its enterprise business to gain traction.

A new Commissioner of Police in Anambra, Nnanna Ama, on Monday, assumed office following the promotion of the former CP, Ikioye Orutugu, to the rank of Assistant Inspector-General (AIG) and his subsequent retirement.

The police public relations officer (PPRO) in the state, SP Tochukwu Ikenga, disclosed this in a statement on Monday in Awka.

“The Anambra Police Command today announce the assumption of duty of CP Ama, as the new CP in the state.

“CP Ama takes over the leadership of the Command, following the retirement of the immediate past CP who was recently promoted to the rank of AIG, Ikioye Orutugu, before his retirement from the Nigeria Police Force (NPF),” he said.

Mr Ikenga said that the new CP was an experienced and accomplished senior police officer with over three decades of distinguished service in the force.

He said that prior to Ama’s redeployment, he served as CP Intelligence and Training at the Force Intelligence Department, Force Headquarters, Abuja, having previously served as Deputy Commissioner of Police (DCP) in the same office.

The new CP is a native of Ekata in Edda Local Government Area (LGA) of Ebonyi State and holds a B.Sc. (Hons) in Psychology from the University of Jos.

Mr Ama started his police career as a Cadet Superintendent of Police and trained at the Police Academy, Wudil, Kano State, before embarking on a wide-ranging career.

Mr Ama’s career in the force includes intelligence, criminal investigation, tactical operations, administration, public relations and strategic command.

The new CP’s previous appointments include DCP, General Investigation, FCID, Abuja; Commanding Officer, Number 44 Police Mobile Force (PMF), Force Headquarters, Abuja; and Area Commander, Nnewi, Anambra.

Other previous appointments were Assistant Commissioner of Police, Homicide, FCID; Zonal CID, Zone 9, Umuahia; Commanding Officer, Number 11 PMF, Calabar; and Divisional Police Officer, Asokoro and Dutse Alhaji in Abuja.

Mr Ama worked as coordinator of courses, Police Detective College, Enugu; Commanding Officer, Number 26 PMF, Uyo; Divisional Crime Officer, Sango Otta, Ogun State; and Police Public Relations Officer, Rivers Police Command, among other strategic posts.

The new CP has also undergone several professional and strategic training programmes both within and outside the country.

Mr Ikenga further said that Ama had been recognised for his professional courage and operational effectiveness, including a commendation award for uncommon bravery, courage and gallantry.

Mr Ama is a member of the International Association of Chiefs of Police, Nigeria Psychological Association and Nigeria Institute of Police Studies.

The PPRO quoted Mr Ama as expressing his commitment to consolidating the existing security gains recorded upon assumption of office.

He pledged to strengthen collaboration among the police, other security agencies, traditional institutions, community leaders, youths, women and other critical stakeholders.

Mr Ama pledged the command’s renewed determination to protect lives and property, prevent and combat crime, uphold the rule of law, and ensure a safe and secure environment for residents, visitors and businesses across the state.

(NAN)