SoftBank in Talks to Invest Up to $30 Billion More in OpenAI
Japanese conglomerate SoftBank Group Corp is reportedly in talks to invest up to USD 30 billion more in OpenAI, the company behind ChatGPT, according to Reuters, in a move that underscores its intensified bet on artificial intelligence.
The new investment would be part of a funding round that could total USD 100 billion for OpenAI, potentially raising the company’s valuation to around USD 830 billion. SoftBank aims to strengthen its position in the global AI race through this move. Masayoshi Son, SoftBank’s CEO, is leading the company’s major commitment to OpenAI. In December, SoftBank completed a USD 41 billion investment in OpenAI, securing an 11% stake.
The announcement comes as OpenAI faces rising costs for training and operating AI models, amid increasing competition from major players including Alphabet’s Google.
The Wall Street Journal was first to report on the discussions. SoftBank declined to comment, while its shares rose 3.5% in Tokyo morning trading.