SoftBank is in talks to inject up to $30 billion in additional capital into OpenAI, according to people familiar with the matter. The move would further expand the Japanese conglomerate's already hefty stake in the startup.
Media previously reported that OpenAI, the developer of ChatGPT, is seeking to raise up to $100 billion in new funding from investors. If the fundraising is completed in full, the company could be valued at as much as $830 billion. Negotiations on the relevant transactions are still ongoing and the terms may still change.
SoftBank is already one of OpenAI’s largest shareholders, raising its stake to 11% through a $22.5 billion investment in December last year. SoftBank Chairman Masayoshi Son said in a statement at the time that the company was “highly aligned with OpenAI’s vision.” To raise funds for its investment in OpenAI, SoftBank said it had sold its stake in chipmaker Nvidia for $5.8 billion.
OpenAI needs significant funding to continue developing its artificial intelligence models, meet its massive computing power needs, and retain top research talent in an increasingly competitive market.
Related articles:
People familiar with the matter: SoftBank has fully injected $40 billion to support OpenAI