SoftBank Group is in talks to invest up to an additional $30 billion in OpenAI, a source familiar with the matter said on Tuesday, as the Japanese conglomerate doubles down on the ChatGPT owner.
The new investment would be part of a funding round that could raise up to $100 billion for OpenAI, valuing it at about $830 billion, the person said.
The source did not want to be identified as the information had not been publicly released.
Opportunity with security!
Seeking to improve SoftBank’s position in the artificial intelligence race, chief executive Masayoshi Son has made an ‘all-in’ bet on OpenAI. In December, SoftBank said it had completed a $41 billion investment in OpenAI, giving it an 11% stake.
OpenAI is facing rising costs to train and operate its AI modelsas competition from Alphabet Google intensifies.
SoftBank, whose shares rose 3.5% in Tokyo morning trading, declined to comment.
