Japanese telecom giant SoftBank’s Vision Fund is set to invest $500 million in OpenAI’s latest funding round, according to a report by The Information on Monday.
This investment marks SoftBank’s first involvement with the artificial intelligence firm led by Sam Altman, signaling a significant move in the rapidly growing AI sector.
Earlier this month, it was reported that OpenAI is raising $6.5 billion through convertible notes, further fueling its ambitious expansion.
OpenAI, the company behind ChatGPT, has been valued at $150 billion prior to SoftBank’s investment. However, the final valuation may depend on whether the firm can successfully restructure its corporate framework and remove a profit cap for investors. This restructuring would shift OpenAI from its current non-profit board oversight to a more conventional for-profit corporate structure, potentially attracting more capital.
Notably, Apple, which was initially reported to be interested in participating in the funding round, has opted not to move forward, leaving room for other investors like SoftBank to enter the fold.
