SoftBank is reportedly in talks to invest up to $25 billion in OpenAI, a deal that would make it the biggest financial backer of the startup behind ChatGPT.
SoftBank ‘in Talks’ to Invest Up to $25bn in OpenAI.
The Japanese investment group SoftBank is reportedly in talks to invest up to $25 billion (£20 billion) in OpenAI, a deal that would make it the biggest financial backer of the startup behind ‘ChatGPT‘.
OpenAI is a research organization focused on developing and promoting friendly AI that benefits humanity.
Founded in 2015 by Elon Musk, Sam Altman, and others, the company's mission is to ensure that artificial intelligence (AI) is developed in a way that aligns with human values.
OpenAI has made significant advancements in natural language processing, computer vision, and robotics, and its technologies have been used in various applications such as chatbots, virtual assistants, and self-driving cars.
SoftBank‘s consideration of investing between $15 billion and $25 billion into the San Francisco-based company comes after its recent investment in OpenAI valued the company at $157 billion. SoftBank is already an investor in OpenAI, having backed a funding round that included Microsoft, currently OpenAI‘s biggest shareholder.
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SoftBank is a Japanese multinational conglomerate holding company founded in 1981 by Masayoshi Son.
The company has evolved into a global technology giant, with investments in various sectors such as telecommunications, e-commerce, and artificial intelligence.
SoftBank's portfolio includes popular brands like Sprint, Yahoo Japan, and ARM Holdings.
The company has also made significant investments in startups like Uber, Slack, and WeWork.
The proposed deal also ties in with SoftBank‘s partnership with Oracle to form Stargate, which aims to build data centers for AI systems with an initial spend of $100 billion. SoftBank‘s equity investment would reportedly cover the company’s commitment to Stargate, a project that has been met with skepticism by ‘Elon Musk‘, who claimed its backers ‘don’t actually have the money’.
OpenAI‘s chief executive, Sam Altman, responded to ‘Musk’s comments’ on social media platform X, stating that the funding claims were wrong and that the project was ‘great for the country’. However, OpenAI later accused Chinese startups of using its technology to develop competing products.
The proposed investment has been vetted by senior executives and the board at OpenAI, but it has not yet been finalized. SoftBank‘s chief executive, Masayoshi Son, is leading the proposal, which would make SoftBank the largest financial backer of OpenAI if completed.
- theguardian.com | SoftBank ‘in talks’ to invest up to $25bn in OpenAI
- ft.com | SoftBank in talks to invest up to $25bn in OpenAI
