Masayoshi Son’s SoftBank to Pump $1.5 Billion into OpenAI, Reinforcing AI Leadership Ambitions
In a strategic move to cement its position as a leader in artificial intelligence (AI), SoftBank, the Japanese tech giant, has announced plans to invest an additional $1.5 billion into OpenAI. This significant investment is part of SoftBank’s broader goal to become a central player in the rapidly advancing AI field.
In a strategic move to cement its position as a leader in artificial intelligence (AI), SoftBank, the Japanese tech giant, has announced plans to invest an additional $1.5 billion into OpenAI. This significant investment is part of SoftBank’s broader goal to become a central player in the rapidly advancing AI field.
SoftBank’s CEO, Masayoshi Son, who has long been a champion of AI innovation, expressed his dedication to the cause, stating, “This is what I was born to do, to realize ASI [artificial super intelligence].” Son’s statement underscores his commitment to the development of AI technologies and his ambition to position SoftBank at the forefront of the industry.
The $1.5 billion investment will be made through a tender offer, which will allow current and former OpenAI employees—those who have held stock for more than two years—to sell their shares to SoftBank. This transaction is expected to close in early 2024, according to reports. The stock will be purchased based on OpenAI’s most recent funding round, in which the company raised $6.6 billion at a valuation of $150 billion.
SoftBank had previously invested $500 million into OpenAI during the same funding round, through its tech-focused Second Vision Fund. With this new investment, SoftBank is poised to become one of OpenAI’s largest backers, joining the ranks of other significant investors such as Josh Kushner’s Thrive Capital, Tiger Global, Altimeter Capital, and Abu Dhabi’s MGX.
While SoftBank’s additional backing is noteworthy, OpenAI’s most influential partner remains Microsoft, which has already invested over $13 billion in the company. This comes as part of an ongoing trend of AI startups securing substantial investments. Recently, Elon Musk’s AI venture, xAI, raised $5 billion, bringing its valuation to $45 billion, while rival Anthropic secured a $4 billion investment from Amazon.
SoftBank’s investment in OpenAI reflects the growing race among tech giants to dominate the AI sector, as they seek to capitalize on the immense potential of artificial intelligence and super-intelligence technologies. This move positions SoftBank not just as a major investor, but as a key player in shaping the future of AI development.
As the competition heats up and investments pour in from all directions, SoftBank’s continued involvement with OpenAI signals the company’s unwavering confidence in the transformative power of AI.
Sources By Agencies
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