SoftBank is negotiating to invest up to $30 billion more in OpenAI. The Japanese conglomerate already holds a large stake in the artificial intelligence startup. According to The Wall Street Journal, the deal talks are ongoing and terms could still change.
OpenAI Seeks Major Funding Round
OpenAI is seeking up to $100 billion in new capital from investors. The fundraising round could value the ChatGPT maker at as much as $830 billion if it raises the full amount. The Wall Street Journal previously reported these fundraising details.
The potential valuation would mark one of the largest private company valuations in technology history. OpenAI has been working to secure significant capital to support its research and development efforts.
SoftBank’s Growing AI Portfolio
SoftBank’s planned investment would build on its existing position in OpenAI. The Japanese firm has been expanding its presence in artificial intelligence companies. SoftBank’s chief executive Masayoshi Son met with OpenAI’s Sam Altman in Tokyo last year.
The company has made AI investments a priority in its portfolio strategy. SoftBank operates through its Vision Fund and other investment vehicles.
Deal Terms Still Under Discussion
The investment discussions remain fluid. People familiar with the matter said the exact size and structure of SoftBank’s contribution have not been finalized. The $30 billion figure represents the upper end of the potential investment range.
OpenAI has attracted significant interest from investors seeking exposure to artificial intelligence technology. The company’s ChatGPT product has driven widespread adoption of AI tools across industries.
The fundraising comes as OpenAI continues to develop new AI models and expand its commercial offerings. The startup faces competition from other AI companies but maintains a leading position in the market.
SoftBank declined to comment on the specific investment talks. OpenAI also did not provide comment on the fundraising discussions.
