There have been reports that SoftBank is considering increasing its investment in the artificial intelligence (AI) startup by $30 billion, which would increase its stake from the 11% it already owns and make it one of OpenAI’s largest backers, according to the report.
The Wall Street Journal reported Jan. 28 that SoftBank was in talks to invest another $30 billion in Open AI. The report cited unnamed sources, and neither SoftBank nor OpenAI replied to PYMNTS’ request for comment.
The report said this investment would be in addition to the $22.5 billion investment SoftBank made in OpenAI in December. That investment brought the company’s stake in the AI startup to 11%.
The talks were ongoing, and the terms could change, per the report.
It was also reported Jan. 28 that OpenAI was seeking a $100 billion funding round and that Amazon, Microsoft and Nvidia were among the companies in talks to join the round.
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Together, these commitments would help OpenAI with its goal of raising up to $100 billion at a valuation of $750 billion.
It was reported in December that SoftBank completed a promised $40 billion investment commitment to OpenAI when it gave the AI startup a final payment of $22 billion to $22.5 billion. The investment firm had previously syndicated $10 billion and invested $8 billion in OpenAI.
An earlier report said that SoftBank was finalizing a $40 billion investment in OpenAI at a $260 billion pre-money valuation, adding that this funding would help support OpenAI’s AI infrastructure Stargate joint venture with Oracle and SoftBank.
When SoftBank announced that it had completed its additional $22.5 billion investment in OpenAI, SoftBank Group Chairman and CEO Masayoshi Son said in a press release: “We are deeply aligned with OpenAI’s vision of ensuring AGI [artificial general intelligence] benefits all of humanity.”
OpenAI CEO Sam Altman said in the same release: “SoftBank saw the potential of AI early and committed with a deep belief in its impact on humanity.”
