OpenAI deal to license Disney characters is entirely in stock
- lastmansurfing
- Dec 16, 2025
- 1 min read
OpenAI is getting access to Disney’s kingdom without cutting a check.
The artificial intelligence company’s recent deal to license iconic characters from Walt Disney Co. for its Sora video app is entirely in stock warrants rather than a cash licensing fee, according to people familiar with the matter.
OpenAI will offer Disney the option to purchase shares in the high-flying startup beyond its previously announced $1 billion stake.
The terms, which have not been reported, are intended to align both companies’ financial incentives if Sora succeeds.
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