SoftBank invests $10B in OpenAI as part of $30B commitment
Business
SoftBank has put in a fresh $10 billion investment into OpenAI, as part of its huge $30 billion commitment.
This is all tied to a massive $110 billion funding round that also saw big names like NVIDIA and Amazon jump in, valuing OpenAI at a whopping $730 billion before the money even landed.
SoftBank used $40B bridge loan
SoftBank used a hefty $40 billion bridge loan to make this latest investment happen, with the final chunk set for October 1.
Meanwhile, word is OpenAI might push back its IPO until 2027, which has made some investors nervous.
SoftBank's shares slid over 12% and Japan's Nikkei took a hit too, though their India portfolio remained under pressure, with most listed investments losing value except for Lenskart, which still scored a cool $100 million gain.