SoftBank Group has approved an additional $22.5 billion investment in OpenAI to complete its total investment plan of $30 billion in the company, technology news website The Information reported on Saturday.Citing a person familiar with the decision, the report said that the Japanese investment group's board of directors has approved the installment investment, but only if OpenAI completes a corporate restructuring - a move that will pave the way for its eventual public listing (IPO).
The authenticity of the report has not yet been verified. SoftBank and OpenAI did not immediately respond to requests for comment.
The funds will be used to complete a $41 billion funding round announced in April, The Information reported.
Previously, SoftBank had agreed to inject $10 billion into OpenAI in mid-April and planned to invest an additional $30 billion in December. However, the additional investment was conditional on the artificial intelligence company transforming into a for-profit organization by the end of this year.
However, the technology investment firm has previously said that if OpenAI’s restructuring fails, its total investment will drop to $20 billion.