SoftBank wants a bigger slice of OpenAI with $30B investment
Business
SoftBank is reportedly looking to pour another $30 billion into OpenAI, the creators of ChatGPT, as part of a massive funding round that could total $100 billion.
If this goes through, OpenAI's value would jump to around $830 billion, and SoftBank currently holds about an 11% stake.
How they're making it happen—and who else is in
To free up cash for this deal, SoftBank sold off shares in NVIDIA and T-Mobile recently and paused some other big investments.
OpenAI needs these funds to keep building powerful AI models and stay ahead in the talent race.
OpenAI is seeking investment from Middle Eastern sovereign-wealth funds and other venture capital firms.