Oct 1 (Reuters) – SoftBank Group said on Thursday it has completed its $30 billion investment in OpenAI as part of its commitment to the ChatGPT maker’s last fundraising round. Here are some other details: • Earlier this year, OpenAI had secured $122 billion in commitments that valued the Sam Altman-led company at $852 billion. […]
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SoftBank completes final phase of $30 billion investment in OpenAI
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Oct 1 (Reuters) – SoftBank Group said on Thursday it has completed its $30 billion investment in OpenAI as part of its commitment to the ChatGPT maker’s last fundraising round.
Here are some other details:
• Earlier this year, OpenAI had secured $122 billion in commitments that valued the Sam Altman-led company at $852 billion. Amazon, Nvidia and SoftBank had anchored the fundraising.
• The Japanese investment conglomerate, led by founder Masayoshi Son, previously agreed to invest the capital through three tranches of $10 billion each through its Vision Fund 2.
• SoftBank raised $11.1 billion last month in the largest high-yield corporate bond sale globally to fund its mammoth bet on OpenAI.
• It has become one of the world’s biggest backers of OpenAI under founder Son’s push to make the Japanese conglomerate a dominant investor in AI.
• SoftBank’s cumulative investment in OpenAI stands at $64.6 billion, giving it a 13% stake in the AI lab.
• It has canceled the remaining $10 billion of undrawn capacity under its $40 billion bridge loan secured earlier this year.
(Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Shilpi Majumdar)